Valeo Financial Advisors LLC Takes Position in IAC Inc. (NASDAQ:IAC)

Valeo Financial Advisors LLC acquired a new stake in shares of IAC Inc. (NASDAQ:IAC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,169 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors have also recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC raised its holdings in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares during the period. Whitebox Advisors LLC increased its position in shares of IAC by 9.5% during the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after acquiring an additional 121,664 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of IAC by 5,474.2% during the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after acquiring an additional 337,268 shares in the last quarter. Finally, DME Capital Management LP bought a new stake in shares of IAC during the second quarter worth about $13,655,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Up 1.3 %

IAC opened at $53.62 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of -33.94 and a beta of 1.32. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company’s 50-day moving average price is $51.94 and its two-hundred day moving average price is $50.64.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). The company had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. As a group, equities analysts expect that IAC Inc. will post -0.79 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IAC shares. Barclays decreased their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. JMP Securities initiated coverage on shares of IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price target on the stock. Truist Financial boosted their price target on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup cut their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, IAC currently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.