IAC Inc. $IAC Stock Holdings Raised by AREX Capital Management LP

Key Points

• AREX Capital Management LP significantly increased its stake in IAC Inc. by 101.8%, owning 55,500 shares and making it their 5th largest position at a valuation of approximately $2.55 million.
• Several institutional investors, including TD Private Client Wealth LLC and Parallel Advisors LLC, have also substantially increased their holdings in IAC during the 1st quarter of the year, indicating strong interest in the stock.
• Despite reporting earnings of $2.57 per share, IAC's revenue fell short of analysts' expectations, leading to adjustments in target prices from various analysts with a current average target of $47.92.

AREX Capital Management LP raised its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 101.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,500 shares of the company's stock after buying an additional 28,000 shares during the period. IAC comprises approximately 5.2% of AREX Capital Management LP's portfolio, making the stock its 5th largest position. AREX Capital Management LP owned about 0.07% of IAC worth $2,550,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IAC. Hsbc Holdings PLC purchased a new stake in IAC during the fourth quarter valued at about $292,000. Northern Trust Corp boosted its position in IAC by 6.8% during the fourth quarter. Northern Trust Corp now owns 467,587 shares of the company's stock valued at $20,172,000 after buying an additional 29,627 shares during the period. AQR Capital Management LLC boosted its position in IAC by 58.2% during the fourth quarter. AQR Capital Management LLC now owns 167,488 shares of the company's stock valued at $7,194,000 after buying an additional 61,627 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in IAC by 806.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,352 shares of the company's stock valued at $1,913,000 after buying an additional 39,458 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in IAC during the fourth quarter valued at about $1,540,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Benchmark lowered their price objective on shares of IAC from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Truist Financial lowered their price objective on shares of IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group upped their price objective on shares of IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $47.92.

IAC Trading Up 1.1%

IAC stock traded up $0.40 during trading on Friday, reaching $37.19. The company had a trading volume of 1,613,994 shares, compared to its average volume of 1,135,360. IAC Inc. has a 52 week low of $32.04 and a 52 week high of $55.40. The company has a market cap of $2.77 billion, a P/E ratio of -6.90 and a beta of 1.26. The business has a 50 day moving average of $37.86 and a 200 day moving average of $38.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same period in the prior year, the firm earned ($1.71) earnings per share. IAC's revenue was down 7.5% on a year-over-year basis. As a group, sell-side analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal 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.