Balyasny Asset Management L.P. Purchases New Holdings in IAC Inc. (NASDAQ:IAC)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IAC. Barclays PLC lifted its position in IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company's stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. Franklin Resources Inc. grew its stake in IAC by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock valued at $577,000 after acquiring an additional 686 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in IAC by 452.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company's stock valued at $4,438,000 after acquiring an additional 84,259 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in IAC during the 4th quarter valued at about $7,794,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of IAC by 1,398.5% in 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. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IAC. Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. KeyCorp dropped their price objective on shares of IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Barclays dropped their price objective 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. Truist Financial dropped their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Benchmark lowered their price objective on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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 $0.29 during trading hours on Wednesday, reaching $36.75. The company had a trading volume of 81,726 shares, compared to its average volume of 782,351. The company has a market capitalization of $2.72 billion, a P/E ratio of -5.63 and a beta of 1.24. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock's fifty day simple moving average is $38.50 and its 200 day simple moving average is $42.80.

IAC (NASDAQ:IAC - Get Free Report) last posted its 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. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. During the same period last year, the firm earned $0.51 EPS. The firm's revenue was down 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that IAC Inc. will post 0.43 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.