IAC Inc. (NASDAQ:IAC) Shares Acquired by Asset Value Investors Ltd

Asset Value Investors Ltd lifted its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 9.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,011,350 shares of the company's stock after acquiring an additional 87,100 shares during the quarter. IAC makes up about 27.0% of Asset Value Investors Ltd's portfolio, making the stock its 2nd biggest holding. Asset Value Investors Ltd owned 1.31% of IAC worth $46,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in IAC by 426.1% in 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 in the last quarter. SG Americas Securities LLC acquired a new position in IAC in the 1st quarter valued at $893,000. GAMMA Investing LLC grew its holdings in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after buying an additional 520 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in IAC by 255.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 19,678 shares of the company's stock valued at $904,000 after buying an additional 14,146 shares in the last quarter. Finally, Chemistry Wealth Management LLC grew its holdings in IAC by 75.0% in the 1st quarter. Chemistry Wealth Management LLC now owns 23,871 shares of the company's stock valued at $1,097,000 after buying an additional 10,228 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

Shares of IAC stock traded down $0.80 on Friday, hitting $35.75. 811,827 shares of the company's stock were exchanged, compared to its average volume of 818,226. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.40. The stock has a market cap of $2.65 billion, a P/E ratio of -5.48 and a beta of 1.23. The company has a 50 day moving average of $35.76 and a 200 day moving average of $41.14.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities research analysts predict that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IAC. Barclays decreased their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Piper Sandler cut their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. JMP Securities cut their target price on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. KeyCorp cut their target price on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their target price on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

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.