BNP Paribas Financial Markets Acquires Shares of 35,701 IAC Inc. (NASDAQ:IAC)

BNP Paribas Financial Markets acquired a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,701 shares of the company's stock, valued at approximately $1,540,000.

Several other hedge funds also recently modified their holdings of IAC. Barclays PLC boosted its position in shares of IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company's stock worth $3,268,000 after purchasing an additional 54,797 shares in the last quarter. Franklin Resources Inc. raised its position in shares of IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock worth $577,000 after purchasing an additional 686 shares during the period. Assenagon Asset Management S.A. raised its position in shares of IAC by 452.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company's stock worth $4,438,000 after purchasing an additional 84,259 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares during the period. Finally, Clear Harbor Asset Management LLC raised its position in shares of IAC by 145.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,466 shares of the company's stock worth $408,000 after purchasing an additional 5,605 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Down 0.6%

IAC stock traded down $0.22 during mid-day trading on Friday, reaching $36.31. The company had a trading volume of 889,421 shares, compared to its average volume of 790,465. 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 52 week low of $32.05 and a 52 week high of $55.40. The stock has a 50 day simple moving average of $37.91 and a two-hundred day simple moving average of $42.49. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.57 and a beta of 1.24.

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 the consensus estimate 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 company had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IAC shares. Barclays dropped their price target on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of IAC in a research report on Monday, May 5th. Oppenheimer dropped 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. Piper Sandler dropped their target price on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group dropped their target price on IAC from $54.00 to $38.00 and set a "neutral" 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.38.

About IAC

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.