Dimensional Fund Advisors LP reduced its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd grew its position in IAC by 287.4% in 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 during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC in the 4th quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB grew its position in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares during the period. KBC Group NV grew its position in IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after purchasing an additional 608 shares during the period. Finally, Allworth Financial LP grew its position in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock worth $139,000 after purchasing an additional 3,079 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.
IAC Stock Down 0.5%
NASDAQ:IAC traded down $0.18 during midday trading on Wednesday, reaching $36.87. 21,558 shares of the stock traded hands, compared to its average volume of 782,119. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40. The business has a 50-day moving average of $38.50 and a two-hundred day moving average of $42.80. 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 has a market capitalization of $2.73 billion, a PE ratio of -5.64 and a beta of 1.24.
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 analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The company had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. IAC's revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have commented on IAC. JMP Securities cut their target price on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Piper Sandler lowered their target price on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup decreased their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial decreased their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.38.
View Our Latest Research Report on IAC
About IAC
(
Free Report)
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.
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