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. bought a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 41,754 shares of the company's stock, valued at approximately $1,918,000. Capital Fund Management S.A. owned about 0.06% of IAC as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC increased its stake in IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after buying an additional 583 shares during the period. Fifth Third Bancorp boosted its holdings in shares of IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after buying an additional 507 shares during the period. Versant Capital Management Inc increased its position in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after acquiring an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after acquiring an additional 520 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Down 0.1%

IAC stock traded down $0.05 during mid-day trading on Thursday, hitting $36.71. The stock had a trading volume of 790,958 shares, compared to its average volume of 1,681,095. IAC Inc. has a 1-year low of $32.04 and a 1-year high of $55.40. The company has a fifty day moving average of $37.89 and a 200 day moving average of $39.07. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -6.81 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. During the same quarter in the previous year, the business earned ($1.71) EPS. IAC's quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on IAC shares. Oppenheimer decreased their price objective on shares of IAC from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. KeyCorp decreased their target price on IAC from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, August 6th. JMP Securities lowered their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a report on Tuesday, June 10th. 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. Finally, Piper Sandler decreased their price objective on IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, IAC currently has a consensus rating of "Moderate Buy" and an average target price of $47.92.

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.