Gotham Asset Management LLC Buys 10,659 Shares of IAC Inc. (NASDAQ:IAC)

Gotham Asset Management LLC lifted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 68.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,244 shares of the company's stock after purchasing an additional 10,659 shares during the quarter. Gotham Asset Management LLC's holdings in IAC were worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd raised its position in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after acquiring an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC in the fourth quarter worth about $41,000. MassMutual Private Wealth & Trust FSB raised its position in IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after acquiring an additional 1,916 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in IAC in the fourth quarter worth about $135,000. Finally, Allworth Financial LP raised its position in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company's stock worth $139,000 after acquiring an additional 3,079 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Down 1.3%

NASDAQ IAC traded down $0.49 on Wednesday, reaching $36.55. The stock had a trading volume of 1,308,309 shares, compared to its average volume of 787,102. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The business has a 50 day moving average price of $38.50 and a 200 day moving average price of $42.80. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -5.61 and a beta of 1.24.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating 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 business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the previous year, the business posted $0.51 EPS. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. On average, analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IAC has been the topic of a number of analyst reports. Piper Sandler dropped their price target on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer dropped their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. 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. Barclays decreased 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. Finally, JMP Securities lowered their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $55.38.

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.