Bank of America Corp DE Decreases Stock Holdings in IAC Inc. (NASDAQ:IAC)

Bank of America Corp DE lowered its position in IAC Inc. (NASDAQ:IAC - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 223,781 shares of the company's stock after selling 280,823 shares during the period. Bank of America Corp DE owned approximately 0.28% of IAC worth $9,654,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd increased its position 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of IAC during the fourth quarter valued at about $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after purchasing an additional 1,916 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of IAC in the 4th quarter valued at approximately $135,000. Finally, Allworth Financial LP boosted its stake in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock worth $139,000 after purchasing an additional 3,079 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent analyst reports. Cowen restated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Citigroup cut their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Benchmark lowered their price target on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. JMP Securities dropped their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their price objective on IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Stock Performance

NASDAQ IAC traded up $0.85 during mid-day trading on Tuesday, reaching $37.16. 701,182 shares of the stock were exchanged, compared to its average volume of 790,108. The company has a market capitalization of $2.75 billion, a P/E ratio of -5.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The business's 50 day moving average is $37.67 and its 200-day moving average is $42.29. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last posted 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 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. During the same period in the prior year, the company posted $0.51 EPS. The company's revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that IAC Inc. will post 0.43 EPS 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.