KBC Group NV Buys 608 Shares of IAC Inc. (NASDAQ:IAC)

KBC Group NV grew its stake in shares of IAC Inc. (NASDAQ:IAC) by 22.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,278 shares of the company’s stock after acquiring an additional 608 shares during the quarter. KBC Group NV’s holdings in IAC were worth $141,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in IAC by 2.4% in the third 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 acquiring an additional 66,347 shares during the last quarter. State Street Corp boosted its holdings in shares of IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after purchasing an additional 28,577 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of IAC by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after buying an additional 52,271 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of 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 buying an additional 75,918 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Performance

NASDAQ IAC opened at $42.30 on Friday. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of -98.37 and a beta of 1.32. 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 Inc. has a twelve month low of $39.61 and a twelve month high of $58.29. The stock has a fifty day simple moving average of $43.68 and a 200 day simple moving average of $48.55.

IAC (NASDAQ:IAC) last issued its quarterly earnings results 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 company had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the previous year, the company posted ($0.30) EPS. The company’s quarterly revenue was down 15.5% on a year-over-year basis. Sell-side analysts expect that IAC Inc. will post -3.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IAC. KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Macquarie reaffirmed an “outperform” rating and set a $14.00 price target 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. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Benchmark reiterated a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average price target of $67.67.

IAC 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.