Brown Advisory Inc. Has $35.56 Million Stake in IAC Inc. (NASDAQ:IAC)

Brown Advisory Inc. lifted its position in IAC Inc. (NASDAQ:IAC - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 774,119 shares of the company's stock after buying an additional 9,932 shares during the period. Brown Advisory Inc. owned approximately 1.00% of IAC worth $35,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IAC. Vanguard Group Inc. grew its holdings in IAC by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after acquiring an additional 43,772 shares during the period. Southeastern Asset Management Inc. TN boosted its stake in shares of IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after acquiring an additional 483,613 shares in the last quarter. Corvex Management LP boosted its stake in shares of IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after acquiring an additional 920,875 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of IAC by 5.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock worth $72,029,000 after acquiring an additional 84,121 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of IAC by 9.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock worth $68,306,000 after purchasing an additional 130,604 shares during the period. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 2.6%

NASDAQ IAC traded down $1.07 on Friday, reaching $40.60. The stock had a trading volume of 742,734 shares, compared to its average volume of 835,108. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.30. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The business has a 50 day moving average price of $37.30 and a 200 day moving average price of $40.19. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -4.20 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. 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 previous year, the business posted $0.51 EPS. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. On average, analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IAC. KeyCorp decreased their price target on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Piper Sandler reduced their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group dropped their target price on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Cowen restated a "buy" rating on shares of IAC in a report on Monday, May 5th. Finally, JMP Securities decreased their price objective on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 10th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.08.

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.