IAC Inc. $IAC Shares Acquired by Brooktree Capital Management

Key Points

• Brooktree Capital Management increased its stake in IAC by 9.6% in Q4 to 320,899 shares, representing 8.3% of Brooktree’s portfolio and worth about $12.55 million.
• IAC’s latest quarter showed an EPS of -$0.99 versus a $0.67 consensus (missing by $1.66); revenue was $646 million (slightly above estimates) but down 34.7% YoY, with negative margins and ROE.
• Analysts lean positive with a consensus rating of “Moderate Buy” and a target price of about $49.38 (10 Buys, 4 Holds, 1 Sell), and several firms recently raised price targets into the mid‑$50s.

Brooktree Capital Management boosted its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,899 shares of the company's stock after purchasing an additional 28,221 shares during the period. IAC makes up 8.3% of Brooktree Capital Management's portfolio, making the stock its 4th biggest position. Brooktree Capital Management owned 0.45% of IAC worth $12,547,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC acquired a new stake in IAC during the 4th quarter valued at $25,000. Advisory Services Network LLC bought a new position in IAC during the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC bought a new position in IAC during the 3rd quarter valued at $39,000. Geneos Wealth Management Inc. boosted its stake in IAC by 96.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company's stock valued at $114,000 after acquiring an additional 1,500 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in IAC during the 3rd quarter valued at $113,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Performance

IAC stock opened at $44.97 on Monday. The firm's 50-day moving average is $40.01 and its 200-day moving average is $37.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. IAC Inc. has a 1 year low of $29.56 and a 1 year high of $45.82. The company has a market cap of $3.20 billion, a P/E ratio of -33.81 and a beta of 1.03.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business had revenue of $645.98 million during the quarter, compared to the consensus estimate of $641.01 million. During the same quarter in the previous year, the business posted ($2.39) earnings per share. The company's quarterly revenue was down 34.7% compared to the same quarter last year. On average, equities analysts expect that IAC Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IAC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of IAC in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their price objective on shares of IAC from $48.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Citigroup increased their price objective on shares of IAC from $38.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Needham & Company LLC set a $57.00 price objective on shares of IAC in a research note on Tuesday, March 3rd. Finally, Benchmark increased their price objective on shares of IAC from $57.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.38.

IAC Profile

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.

Want to see what other hedge funds are holding IAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IAC Inc. (NASDAQ:IAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.