Edgestream Partners L.P. Purchases Shares of 60,406 IAC Inc. (NASDAQ:IAC)

Edgestream Partners L.P. purchased a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 60,406 shares of the company's stock, valued at approximately $2,775,000. Edgestream Partners L.P. owned about 0.08% of IAC at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC raised its position in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after purchasing an additional 429 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after buying an additional 583 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after buying an additional 507 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after buying an additional 369 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Up 1.3%

Shares of NASDAQ IAC traded up $0.52 during trading hours on Thursday, hitting $40.98. 562,754 shares of the stock were exchanged, compared to its average volume of 836,041. 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 cap of $3.03 billion, a PE ratio of -4.24 and a beta of 1.23. The firm has a fifty day moving average price of $37.63 and a 200-day moving average price of $40.14. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. IAC's revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. On average, sell-side analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IAC. UBS Group cut their price target on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Piper Sandler lowered their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. 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 report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, JMP Securities lowered their price objective on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, IAC has a consensus rating of "Moderate Buy" and an average target price of $54.08.

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.