23,932 Shares in IAC Inc. $IAC Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has acquired 23,932 shares in IAC Inc., valued at approximately $894,000, during the second quarter.
• IAC's last earnings report showed an EPS of $2.57, significantly beating the consensus estimate of ($0.30), despite a revenue drop of 7.5% year-over-year.
• The stock has received mixed ratings from analysts, with target prices ranging from $39.00 to $63.00, and an average consensus target price of $47.92.

Assenagon Asset Management S.A. purchased a new stake in IAC Inc. (NASDAQ:IAC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,932 shares of the company's stock, valued at approximately $894,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. TD Private Client Wealth LLC raised its position in IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after acquiring an additional 429 shares during the last quarter. Parallel Advisors LLC lifted its stake in IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares in the last quarter. Fifth Third Bancorp grew its holdings in IAC by 426.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after buying an additional 507 shares during the last quarter. Versant Capital Management Inc increased its position in IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after buying an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after acquiring an additional 520 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Stock Up 1.9%

Shares of NASDAQ IAC opened at $35.04 on Friday. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -6.50 and a beta of 1.26. The stock's 50-day simple moving average is $36.72 and its 200-day simple moving average is $37.68.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, topping the consensus estimate of ($0.30) by $2.87. The company had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The business's revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.71) EPS. As a group, equities analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent research reports. UBS Group upped their target price on shares of IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. KeyCorp reduced their price target on IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen upgraded IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Piper Sandler lowered their price target on IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Benchmark cut their price objective on shares of IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $47.92.

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.

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