State Street Corp Has $127.03 Million Position in IAC Inc. (NASDAQ:IAC)

State Street Corp boosted its holdings in IAC Inc. (NASDAQ:IAC) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,360,210 shares of the company’s stock after buying an additional 28,577 shares during the quarter. State Street Corp’s holdings in IAC were worth $127,027,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IAC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after acquiring an additional 79,951 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after acquiring an additional 52,271 shares during the last quarter. Bank of New York Mellon Corp increased its position in IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the period. Finally, WCM Investment Management LLC raised its holdings in IAC by 25.0% during the 3rd quarter. WCM Investment Management LLC now owns 379,556 shares of the company’s stock worth $20,762,000 after purchasing an additional 75,918 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IAC shares. Macquarie reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. Finally, KeyCorp lowered their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

IAC Stock Performance

NASDAQ IAC opened at $44.47 on Friday. The company has a market cap of $3.58 billion, a P/E ratio of -103.42 and a beta of 1.31. The company has a fifty day simple moving average of $49.88 and a 200 day simple moving average of $50.03. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. Sell-side analysts predict that IAC Inc. will post -3.97 earnings per share for the current fiscal 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.