Cerity Partners LLC Purchases Shares of 44,452 IAC Inc. (NASDAQ:IAC)

Cerity Partners LLC purchased a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 44,452 shares of the company's stock, valued at approximately $2,042,000. Cerity Partners LLC owned 0.06% of IAC as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in IAC by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after buying an additional 320 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after acquiring an additional 369 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after acquiring an additional 429 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in shares of IAC by 287.4% during the fourth 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. Finally, Fifth Third Bancorp lifted its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after purchasing an additional 507 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Down 0.1%

Shares of IAC traded down $0.04 during trading hours on Thursday, hitting $41.10. The stock had a trading volume of 432,802 shares, compared to its average volume of 1,030,369. IAC Inc. has a 1-year low of $32.04 and a 1-year high of $55.40. The firm has a market capitalization of $3.04 billion, a P/E ratio of -4.25 and a beta of 1.23. 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 firm has a 50 day simple moving average of $37.91 and a 200-day simple moving average of $40.07.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.14. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. The company had revenue of $570.49 million during the quarter, compared to analyst estimates of $809.18 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. Sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IAC shares. JPMorgan Chase & Co. dropped their price target on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Citigroup reduced their price target on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Piper Sandler lowered their price target on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Cowen restated a "buy" rating on shares of IAC in a research report on Monday, May 5th. Finally, Barclays reduced their price target on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, IAC presently has a consensus rating of "Moderate Buy" and an average price target of $54.08.

About IAC

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.