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 acquired a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,108 shares of the company's stock, valued at approximately $694,000.

A number of other large investors also recently modified their holdings of IAC. Bleakley Financial Group LLC grew its position in shares of IAC by 1.0% in the 1st quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company's stock valued at $1,520,000 after buying an additional 324 shares during the last quarter. Versant Capital Management Inc grew its position in shares of IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after buying an additional 369 shares during the last quarter. US Bancorp DE grew its position in shares of IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company's stock valued at $103,000 after buying an additional 401 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after buying an additional 429 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after buying an additional 507 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KeyCorp dropped their target price on shares of IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Truist Financial lowered their price objective on shares of IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Oppenheimer lowered their price objective on shares of IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler lowered their price objective on shares of IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

IAC Trading Up 0.5%

IAC stock traded up $0.17 during trading on Tuesday, reaching $36.24. The company had a trading volume of 132,675 shares, compared to its average volume of 1,107,981. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.40. The stock's 50 day moving average price is $37.56 and its two-hundred day moving average price is $38.18. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -6.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87.

IAC (NASDAQ:IAC - Get Free Report) last released 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 firm had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. IAC's revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.71) earnings per share. As a group, equities analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

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.