Cubist Systematic Strategies LLC Makes New Investment in IAC Inc. (NASDAQ:IAC)

Cubist Systematic Strategies LLC acquired a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 68,946 shares of the company's stock, valued at approximately $2,974,000. Cubist Systematic Strategies LLC owned approximately 0.09% of IAC at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAC. Aster Capital Management DIFC Ltd grew its holdings in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC in the fourth quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB boosted its stake in IAC by 1,398.5% in the fourth 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 in the last quarter. Aquatic Capital Management LLC acquired a new stake in IAC in the fourth quarter valued at about $135,000. Finally, KBC Group NV boosted its stake 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 buying an additional 608 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Oppenheimer reduced their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. UBS Group reduced their price objective on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Benchmark reduced their price objective on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Truist Financial reduced their price objective on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, JMP Securities dropped their target price on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Trading Up 0.4%

Shares of IAC stock traded up $0.15 during midday trading on Friday, reaching $38.04. The company had a trading volume of 346,810 shares, compared to its average volume of 1,093,604. The stock has a fifty day moving average price of $38.87 and a 200 day moving average price of $43.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a market cap of $2.82 billion, a PE ratio of -5.83 and a beta of 1.24. IAC Inc. has a fifty-two week low of $32.04 and a fifty-two week high of $57.16.

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