Cwm LLC Acquires 18,196 Shares of IAC Inc. (NASDAQ:IAC)

Cwm LLC grew its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 137.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,462 shares of the company's stock after acquiring an additional 18,196 shares during the period. Cwm LLC's holdings in IAC were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IAC. Arizona State Retirement System raised its stake in IAC by 4.6% during the first quarter. Arizona State Retirement System now owns 21,930 shares of the company's stock worth $1,007,000 after buying an additional 959 shares during the last quarter. Cerity Partners LLC bought a new position in shares of IAC in the 1st quarter worth about $2,042,000. Brown Advisory Inc. increased its holdings in IAC by 1.3% in the first quarter. Brown Advisory Inc. now owns 774,119 shares of the company's stock worth $35,563,000 after purchasing an additional 9,932 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in IAC by 282.2% in the first 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 period. Finally, Envestnet Asset Management Inc. lifted its stake in IAC by 9.2% in the first quarter. Envestnet Asset Management Inc. now owns 76,451 shares of the company's stock valued at $3,512,000 after buying an additional 6,459 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Price Performance

IAC opened at $40.76 on Monday. The firm has a 50-day moving average price of $37.79 and a 200-day moving average price of $40.07. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -4.22 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.14. The firm had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. The business's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. JMP Securities dropped their price objective on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a report on Tuesday, June 10th. UBS Group decreased their target price on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Piper Sandler lowered their target price on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.08.

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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