Chemistry Wealth Management LLC Raises Stake in IAC Inc. (NASDAQ:IAC)

Chemistry Wealth Management LLC boosted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 75.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,871 shares of the company's stock after buying an additional 10,228 shares during the quarter. Chemistry Wealth Management LLC's holdings in IAC were worth $1,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IAC. Merit Financial Group LLC bought a new stake in shares of IAC in the 1st quarter valued at about $514,000. Parallel Advisors LLC grew its position in IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares during the last quarter. GAMMA Investing LLC grew its position in IAC by 14,573.8% during the 1st quarter. GAMMA Investing LLC now owns 34,777 shares of the company's stock worth $15,980,000 after purchasing an additional 34,540 shares during the last quarter. Versant Capital Management Inc increased its stake 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 during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of IAC in the fourth quarter worth $439,000. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 0.8%

Shares of IAC stock traded down $0.29 during trading hours on Friday, hitting $35.98. The company had a trading volume of 1,051,411 shares, compared to its average volume of 806,880. The company's 50-day moving average is $35.69 and its two-hundred day moving average is $41.62. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company has a market cap of $2.66 billion, a P/E ratio of -5.52 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The company's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. Analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IAC shares. Cowen reissued a "buy" rating on shares of IAC in a report on Monday, May 5th. UBS Group lowered their price target on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Citigroup decreased their target price on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Piper Sandler reduced their price target on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Oppenheimer cut their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.38.

IAC Company 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.