HighTower Advisors LLC Lowers Stock Holdings in IAC Inc. (NASDAQ:IAC)

HighTower Advisors LLC lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,911 shares of the company’s stock after selling 1,395 shares during the quarter. HighTower Advisors LLC’s holdings in IAC were worth $1,713,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 purchasing an additional 66,347 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted 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 valued at $76,527,000 after buying an additional 79,951 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 52,271 shares in the last quarter. Bank of New York Mellon Corp raised its position in IAC by 113.4% in 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. Finally, WCM Investment Management LLC lifted its holdings in IAC by 25.0% in the third quarter. WCM Investment Management LLC now owns 379,556 shares of the company’s stock valued at $20,762,000 after acquiring an additional 75,918 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IAC shares. Truist Financial cut their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. TD Cowen lowered their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Barclays dropped their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

IAC Stock Down 3.8 %

Shares of NASDAQ:IAC opened at $44.47 on Monday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.58 billion, a P/E ratio of -103.42 and a beta of 1.31. IAC Inc. has a 52-week low of $43.51 and a 52-week high of $58.29. The stock’s fifty day simple moving average is $49.88 and its 200-day simple moving average is $50.04.

IAC (NASDAQ:IAC) last released its earnings results 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). The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) earnings per share. As a group, equities research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

IAC Company Profile

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.