Friedenthal Financial Invests $1.02 Million in IAC Inc. $IAC

Key Points

• Friedenthal Financial opened a new position in IAC during Q4, buying 25,963 shares valued at about $1.02 million.
• Wall Street sentiment is a "Moderate Buy" with 10 Buys, 4 Holds and 1 Sell and an average price target of $47.62.
• IAC reported weak results recently, missing EPS estimates (‑$0.99 vs. $0.67 expected) and showing revenue down 34.7% year‑over‑year.

Friedenthal Financial purchased a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,963 shares of the company's stock, valued at approximately $1,015,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its position in shares of IAC by 2.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company's stock worth $518,000 after purchasing an additional 300 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in IAC by 3.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,182 shares of the company's stock worth $517,000 after purchasing an additional 482 shares in the last quarter. Elevation Wealth Partners LLC bought a new position in IAC in the 4th quarter worth about $25,000. Louisiana State Employees Retirement System boosted its stake in IAC by 2.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company's stock worth $1,060,000 after purchasing an additional 700 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in IAC by 9.8% in the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company's stock worth $369,000 after purchasing an additional 718 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IAC has been the topic of a number of analyst reports. Zacks Research upgraded shares of IAC from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 11th. Benchmark reaffirmed a "buy" rating on shares of IAC in a research report on Tuesday, March 3rd. Citigroup upped their price objective on IAC from $38.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Needham & Company LLC set a $57.00 target price on shares of IAC in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of IAC in a research note on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.62.

IAC Price Performance

Shares of NASDAQ:IAC opened at $44.36 on Friday. IAC Inc. has a twelve month low of $29.56 and a twelve month high of $44.48. The firm's 50 day moving average price is $38.38 and its 200-day moving average price is $36.90. The stock has a market capitalization of $3.15 billion, a PE ratio of -33.35 and a beta of 1.06. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). The firm had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.IAC's revenue was down 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.39) EPS. Equities research analysts expect that IAC Inc. will post 0.43 EPS for the current year.

About IAC

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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