Caxton Associates LLP Invests $694,000 in IAC Inc. $IAC

Key Points

• Caxton Associates LLP has invested approximately $694,000 in IAC Inc. by purchasing 15,108 shares during the first quarter.
• Institutional investors own 88.90% of IAC's stock; significant recent investments include Burgundy Asset Management's acquisition worth approximately $66.56 million.
• Recent analyst ratings suggest a mixed outlook for IAC, with a consensus rating of "Moderate Buy" and a price target averaging $47.92.

Caxton Associates LLP bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,108 shares of the company's stock, valued at approximately $694,000.

Several other institutional investors and hedge funds have also made changes to their positions in IAC. Burgundy Asset Management Ltd. acquired a new position in shares of IAC during the 1st quarter worth approximately $66,556,000. Asset Value Investors Ltd acquired a new position in shares of IAC during the 4th quarter worth approximately $39,872,000. AQR Capital Management LLC boosted its holdings in shares of IAC by 422.9% during the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company's stock worth $40,025,000 after purchasing an additional 708,332 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in IAC by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company's stock valued at $250,447,000 after acquiring an additional 557,134 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN lifted its holdings in IAC by 21.3% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock valued at $118,719,000 after acquiring an additional 483,613 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on IAC shares. KeyCorp decreased their price objective on IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Benchmark decreased their price objective on IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Oppenheimer decreased their price objective on IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. UBS Group upped their price objective on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Piper Sandler decreased their price objective on IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.92.

IAC Stock Down 0.1%

Shares of NASDAQ IAC opened at $35.94 on Thursday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -6.67 and a beta of 1.26. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a 52-week low of $32.04 and a 52-week high of $55.40. The business's 50 day moving average is $37.71 and its two-hundred day moving average is $38.49.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $2.87. The company had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The firm's quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.71) earnings per share. Research 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.

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