AQR Capital Management LLC Has $40.03 Million Holdings in IAC Inc. $IAC

AQR Capital Management LLC increased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 422.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 875,820 shares of the company's stock after buying an additional 708,332 shares during the period. AQR Capital Management LLC owned about 1.18% of IAC worth $40,025,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of IAC by 64.8% in the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company's stock valued at $146,000 after buying an additional 1,253 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of IAC in the 1st quarter valued at about $1,107,000. Allspring Global Investments Holdings LLC bought a new stake in IAC in the 1st quarter valued at about $2,590,000. Charles Schwab Investment Management Inc. lifted its position in IAC by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company's stock valued at $46,638,000 after purchasing an additional 47,944 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in IAC by 112.7% in the 1st quarter. Maverick Capital Ltd. now owns 18,874 shares of the company's stock valued at $867,000 after purchasing an additional 10,000 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Trading Down 1.2%

Shares of IAC stock traded down $0.43 during trading on Friday, hitting $36.32. The stock had a trading volume of 289,927 shares, compared to its average volume of 1,110,407. The stock has a 50 day simple moving average of $37.67 and a 200 day simple moving average of $38.43. The company has a market capitalization of $2.70 billion, a PE ratio of -6.68 and a beta of 1.26. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The business had revenue of $586.93 million for the quarter, compared to the consensus estimate of $601.38 million. During the same period last year, the firm posted ($1.71) earnings per share. The firm's quarterly revenue was down 7.5% compared to the same quarter last year. On average, research analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IAC. Truist Financial cut their price objective on shares of IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. KeyCorp cut their price objective on shares of IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. UBS Group lifted their price objective on shares of IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. JMP Securities cut their price objective 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, June 10th. Finally, Piper Sandler cut their price objective on shares of IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.92.

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.