Capital Fund Management S.A. Takes Position in IAC Inc. $IAC

Key Points

• Capital Fund Management S.A. acquired 41,754 shares of IAC Inc. valued at approximately $1.9 million, marking a new position in the company.
• Institutional investors dominate IAC with ownership of 88.90% of its stock, reflecting strong interest from multiple large investors.
• IAC reported better-than-expected earnings of $2.57 per share, despite a decline in quarterly revenue of 7.5% compared to last year.

Capital Fund Management S.A. purchased a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,754 shares of the company's stock, valued at approximately $1,918,000. Capital Fund Management S.A. owned approximately 0.06% of IAC at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IAC. LPL Financial LLC lifted its stake in shares of IAC by 17.1% in the fourth quarter. LPL Financial LLC now owns 5,016 shares of the company's stock worth $216,000 after buying an additional 733 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of IAC in the 4th quarter worth approximately $211,000. Hsbc Holdings PLC bought a new position in IAC in the fourth quarter worth approximately $292,000. Boothbay Fund Management LLC bought a new position in IAC in the fourth quarter worth approximately $915,000. Finally, Oxford Asset Management LLP bought a new position in IAC in the 4th quarter worth $268,000. Institutional investors own 88.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on IAC shares. Piper Sandler decreased their price target on IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Barclays reduced their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. KeyCorp reduced their price target on shares of IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Oppenheimer reduced their price target on shares of IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group reduced their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, IAC currently has an average rating of "Moderate Buy" and an average price target of $47.92.

IAC Price Performance

Shares of IAC stock traded down $0.09 during trading hours on Friday, reaching $36.62. The company's stock had a trading volume of 775,069 shares, compared to its average volume of 1,649,330. The firm has a 50 day moving average price of $37.88 and a 200-day moving average price of $38.94. IAC Inc. has a one year low of $32.04 and a one year high of $55.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market cap of $2.72 billion, a P/E ratio of -6.79 and a beta of 1.26.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The firm had revenue of $586.93 million for the quarter, compared to the consensus estimate of $601.38 million. During the same period in the previous year, the firm posted ($1.71) EPS. The business's quarterly revenue was down 7.5% on a year-over-year basis. On average, analysts predict that IAC Inc. will post 0.43 EPS for the current year.

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.