IAC Inc. (NASDAQ:IAC) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in IAC Inc. (NASDAQ:IAC) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,913 shares of the company’s stock after purchasing an additional 597 shares during the period. Oppenheimer Asset Management Inc.’s holdings in IAC were worth $1,179,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IAC. Edgestream Partners L.P. acquired a new stake in shares of IAC during the 1st quarter valued at approximately $575,000. Louisiana State Employees Retirement System acquired a new stake in shares of IAC during the 2nd quarter valued at approximately $1,649,000. Highbridge Capital Management LLC raised its position in shares of IAC by 70.4% during the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock valued at $7,746,000 after acquiring an additional 68,291 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after acquiring an additional 79,951 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of IAC during the 1st quarter valued at approximately $11,460,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IAC has been the topic of several analyst reports. Truist Financial dropped their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Barclays dropped their target price on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. KeyCorp dropped their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Finally, TD Cowen dropped their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Trading Up 0.6 %

NASDAQ:IAC opened at $47.21 on Tuesday. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -109.79 and a beta of 1.33. The business has a fifty day moving average of $51.91 and a 200-day moving average of $50.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same period in the previous year, the company posted ($0.30) EPS. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. Equities analysts predict that IAC Inc. will post -3.97 earnings per share for the current year.

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.