GAMMA Investing LLC Boosts Holdings in IAC Inc. (NASDAQ:IAC)

GAMMA Investing LLC increased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 14,573.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,777 shares of the company's stock after buying an additional 34,540 shares during the quarter. GAMMA Investing LLC's holdings in IAC were worth $15,980,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after acquiring an additional 369 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of IAC during the 4th quarter worth $439,000. Asset Value Investors Ltd acquired a new stake in shares of IAC during the 4th quarter worth about $39,872,000. Jefferies Financial Group Inc. acquired a new stake in shares of IAC during the 4th quarter worth about $276,000. Finally, Poehling Capital Management INC. purchased a new stake in IAC in the 4th quarter valued at about $1,255,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IAC. Cowen reaffirmed a "buy" rating on shares of IAC in a research note on Monday, May 5th. Truist Financial lowered their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. KeyCorp dropped their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Benchmark cut their target price on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price target on IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, IAC has an average rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Stock Down 0.8%

Shares of NASDAQ:IAC traded down $0.29 during trading on Friday, hitting $35.98. The company's stock had a trading volume of 1,051,411 shares, compared to its average volume of 806,880. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The business has a 50 day moving average price of $35.69 and a two-hundred day moving average price of $41.62. 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 company has a market capitalization of $2.66 billion, a PE ratio of -5.52 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last released its 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. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same period in the previous year, the firm posted $0.51 EPS. IAC's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, research analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal 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.