IAC Inc. (NASDAQ:IAC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 55.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,781 shares of the company's stock after selling 280,823 shares during the quarter. Bank of America Corp DE owned about 0.28% of IAC worth $9,654,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of IAC. Norges Bank purchased a new stake in shares of IAC during the 4th quarter valued at approximately $38,817,000. Joel Isaacson & Co. LLC raised its position in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after buying an additional 359,327 shares during the period. Highbridge Capital Management LLC raised its position in shares of IAC by 223.5% during the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock valued at $15,172,000 after buying an additional 242,982 shares during the period. Proficio Capital Partners LLC raised its position in shares of IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after buying an additional 224,131 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of IAC during the 4th quarter valued at approximately $8,015,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Down 1.0%

Shares of IAC stock traded down $0.39 on Wednesday, reaching $36.77. 344,924 shares of the stock were exchanged, compared to its average volume of 788,529. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The business's 50 day moving average price is $37.44 and its 200 day moving average price is $42.25. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -5.66 and a beta of 1.24. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IAC. KeyCorp cut their target price on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. 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. 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 cut their target price on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their target price on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.38.

IAC 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.