MassMutual Private Wealth & Trust FSB Boosts Stock Position in IAC Inc. (NASDAQ:IAC)

MassMutual Private Wealth & Trust FSB raised its stake in shares of IAC Inc. (NASDAQ:IAC) by 1,398.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,053 shares of the company’s stock after buying an additional 1,916 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in IAC were worth $89,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. Quarry LP grew its position in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. Evergreen Capital Management LLC bought a new position in IAC in the 2nd quarter worth about $208,000. Clear Harbor Asset Management LLC purchased a new stake in shares of IAC in the 3rd quarter valued at about $208,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of IAC during the 3rd quarter valued at about $209,000. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Performance

Shares of IAC stock opened at $41.86 on Friday. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -97.35 and a beta of 1.32. The stock has a fifty day moving average of $44.70 and a 200 day moving average of $49.02. IAC Inc. has a 52 week low of $39.61 and a 52 week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The business’s revenue was down 15.5% compared to the same quarter last year. As a group, research analysts expect that IAC Inc. will post -3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on IAC. UBS Group raised shares of IAC to a “hold” rating in a report on Monday, October 28th. Macquarie reiterated an “outperform” rating and issued a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. Truist Financial dropped their target price on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. TD Cowen decreased their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays cut their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

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.