D. E. Shaw & Co. Inc. Acquires New Shares in IAC Inc. (NASDAQ:IAC)

D. E. Shaw & Co. Inc. bought a new position in IAC Inc. (NASDAQ:IAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 73,173 shares of the company's stock, valued at approximately $3,157,000. D. E. Shaw & Co. Inc. owned 0.09% of IAC as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of IAC. Corvex Management LP raised its stake in shares of IAC by 61.8% during the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after acquiring an additional 920,875 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in IAC during the 4th quarter worth $2,974,000. Bridgefront Capital LLC raised its position in IAC by 57.6% during the 4th quarter. Bridgefront Capital LLC now owns 12,598 shares of the company's stock valued at $543,000 after purchasing an additional 4,604 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of IAC by 925.8% during the fourth quarter. Captrust Financial Advisors now owns 53,678 shares of the company's stock valued at $2,316,000 after buying an additional 48,445 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of IAC by 87.9% in the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock valued at $32,967,000 after purchasing an additional 357,442 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Trading Down 0.6%

Shares of IAC stock traded down $0.22 during trading hours on Friday, reaching $36.31. The stock had a trading volume of 889,421 shares, compared to its average volume of 790,465. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -5.57 and a beta of 1.24. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $37.91 and a two-hundred day simple moving average of $42.49.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($2.80) 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 analyst estimates of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. IAC's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. As a group, equities research analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IAC shares. Piper Sandler lowered their price objective on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays lowered their target price on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of IAC in a research report on Monday, May 5th. Finally, JMP Securities decreased their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.