Asset Value Investors Ltd Takes Position in IAC Inc. (NASDAQ:IAC)

Asset Value Investors Ltd purchased a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 924,250 shares of the company's stock, valued at approximately $39,872,000. IAC comprises 17.9% of Asset Value Investors Ltd's investment portfolio, making the stock its 3rd largest position. Asset Value Investors Ltd owned 1.15% of IAC at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its stake in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after buying an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of IAC during the fourth quarter valued at approximately $41,000. Aquatic Capital Management LLC bought a new stake in IAC during the fourth quarter worth approximately $135,000. Allworth Financial LP lifted its position in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company's stock worth $139,000 after purchasing an additional 3,079 shares during the period. Finally, KBC Group NV lifted its position in IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after purchasing an additional 608 shares during the period. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Down 0.5%

Shares of NASDAQ IAC traded down $0.20 during mid-day trading on Thursday, reaching $36.31. The company had a trading volume of 840,341 shares, compared to its average volume of 793,519. The stock's 50 day moving average is $37.21 and its 200-day moving average is $42.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The stock has a market capitalization of $2.69 billion, a PE ratio of -5.57 and a beta of 1.24.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. IAC's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, equities analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAC has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. KeyCorp reduced their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Oppenheimer cut their target price on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.38.

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.