Merit Financial Group LLC Makes New $514,000 Investment in IAC Inc. (NASDAQ:IAC)

Merit Financial Group LLC acquired a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,186 shares of the company's stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IAC. Asset Value Investors Ltd acquired a new position in shares of IAC in the fourth quarter valued at approximately $39,872,000. Corvex Management LP increased its stake in IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after acquiring an additional 920,875 shares during the last quarter. Norges Bank acquired a new stake in shares of IAC in the 4th quarter valued at approximately $38,817,000. Southeastern Asset Management Inc. TN boosted its position in IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after buying an additional 483,613 shares during the period. Finally, Brown Advisory Inc. increased its position in IAC by 87.9% during the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock valued at $32,967,000 after purchasing an additional 357,442 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

IAC stock traded down $0.55 during midday trading on Thursday, reaching $36.55. The company had a trading volume of 775,889 shares, compared to its average volume of 814,383. 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's fifty day simple moving average is $35.70 and its 200-day simple moving average is $41.31. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40. The company has a market capitalization of $2.71 billion, a P/E ratio of -5.61 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $809.18 million. During the same period last year, the business posted $0.51 earnings per share. IAC's revenue was down 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays lowered their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. 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. Piper Sandler dropped their price objective on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, JMP Securities reduced their target price on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.08.

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.