Dimensional Fund Advisors LP Cuts Holdings in IAC Inc. (NASDAQ:IAC)

Dimensional Fund Advisors LP reduced its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 22.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,405 shares of the company's stock after selling 10,537 shares during the period. Dimensional Fund Advisors LP's holdings in IAC were worth $1,527,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Guggenheim Capital LLC purchased a new stake in shares of IAC in the fourth quarter valued at approximately $211,000. Raymond James Financial Inc. purchased a new position in IAC during the fourth quarter valued at $8,015,000. Renaissance Technologies LLC raised its holdings in shares of IAC by 82.2% during the fourth quarter. Renaissance Technologies LLC now owns 98,627 shares of the company's stock valued at $4,255,000 after acquiring an additional 44,500 shares during the last quarter. Invesco Ltd. lifted its position in shares of IAC by 24.7% in the fourth quarter. Invesco Ltd. now owns 341,507 shares of the company's stock valued at $14,733,000 after acquiring an additional 67,746 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of IAC during the fourth quarter worth approximately $395,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Trading Down 1.3%

IAC opened at $36.55 on Thursday. The business has a fifty day simple moving average of $38.34 and a 200-day simple moving average of $42.76. IAC Inc. has a 52 week low of $32.05 and a 52 week high of $55.40. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.71 billion, a P/E ratio of -5.61 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. KeyCorp dropped their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a 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 for the company in a research note on Tuesday, May 6th. Truist Financial cut their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citigroup lowered their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Cowen reiterated a "buy" rating on shares of IAC in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, IAC presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.38.

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.