Tabor Asset Management LP Invests $5.91 Million in IAC Inc. (NASDAQ:IAC)

Tabor Asset Management LP bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 128,734 shares of the company's stock, valued at approximately $5,914,000. IAC makes up approximately 2.3% of Tabor Asset Management LP's investment portfolio, making the stock its 7th largest holding. Tabor Asset Management LP owned 0.17% of IAC at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in IAC during the 4th quarter worth approximately $8,015,000. HighTower Advisors LLC grew its holdings in shares of IAC by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 32,624 shares of the company's stock valued at $1,407,000 after acquiring an additional 713 shares in the last quarter. Swiss National Bank grew its holdings in shares of IAC by 0.7% during the 4th quarter. Swiss National Bank now owns 142,200 shares of the company's stock valued at $6,135,000 after acquiring an additional 1,000 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after acquiring an additional 320 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of IAC by 1,066.9% during the 4th quarter. Teacher Retirement System of Texas now owns 79,515 shares of the company's stock valued at $3,430,000 after acquiring an additional 72,701 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IAC. KeyCorp cut their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Piper Sandler cut their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Cowen reaffirmed a "buy" rating on shares of IAC in a research report on Monday, May 5th. Barclays cut their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.08.

IAC Stock Performance

IAC stock traded down $0.22 during midday trading on Friday, hitting $40.76. The company's stock had a trading volume of 470,923 shares, compared to its average volume of 834,820. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.70 and a quick ratio of 2.70. The company has a 50-day moving average price of $37.79 and a two-hundred day moving average price of $40.11. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -4.22 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last issued 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. The company had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. As a group, sell-side analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

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.