Chemistry Wealth Management LLC Acquires 10,228 Shares of IAC Inc. (NASDAQ:IAC)

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

Several other hedge funds have also added to or reduced their stakes in IAC. Vanguard Group Inc. boosted its position in IAC by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after purchasing an additional 43,772 shares during the period. Southeastern Asset Management Inc. TN lifted its stake in shares of IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock valued at $118,719,000 after buying an additional 483,613 shares in the last quarter. Corvex Management LP lifted its stake in shares of IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after buying an additional 920,875 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in IAC by 5.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock worth $72,029,000 after buying an additional 84,121 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in IAC by 9.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after buying an additional 130,604 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IAC. JMP Securities cut their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday. Oppenheimer cut their target price on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price target on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial lowered their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler reduced their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.08.

IAC Trading Up 1.0%

Shares of NASDAQ IAC traded up $0.35 during midday trading on Tuesday, hitting $37.05. 771,339 shares of the company traded hands, compared to its average volume of 810,182. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a 50-day moving average price of $35.63 and a 200 day moving average price of $41.42. The firm has a market cap of $2.74 billion, a P/E ratio of -5.68 and a beta of 1.23.

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