Balyasny Asset Management L.P. Takes $561,000 Position in IAC Inc. (NASDAQ:IAC)

Balyasny Asset Management L.P. bought a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,994 shares of the company's stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd raised its stake in IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC during the 4th quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of IAC by 1,398.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after buying an additional 1,916 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of IAC during the 4th quarter valued at approximately $135,000. Finally, KBC Group NV lifted its holdings in IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after acquiring an additional 608 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAC has been the subject of several recent analyst reports. UBS Group cut their target price on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Oppenheimer cut their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Barclays decreased their target price on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Benchmark lowered their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, IAC has an average rating of "Moderate Buy" and an average target price of $55.38.

IAC Stock Down 0.8%

Shares of IAC stock traded down $0.30 during trading on Monday, reaching $37.50. The company's stock had a trading volume of 978,129 shares, compared to its average volume of 786,388. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.49. The stock's 50-day moving average price is $38.75 and its 200 day moving average price is $42.92. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -5.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm's revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

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.