Maverick Capital Ltd. Has $867,000 Stock Position in IAC Inc. $IAC

Key Points

• Maverick Capital Ltd. increased its holdings in IAC Inc. by 112.7% in Q1, owning a total of 18,874 shares worth approximately $867,000.
• Multiple hedge funds have also increased their positions in IAC, with ownership by institutional investors and hedge funds reaching 88.90% of the company's stock.
• IAC reported earnings of $2.57 EPS for the last quarter, exceeding estimates, but experienced a revenue decline of 7.5% year-over-year.

Maverick Capital Ltd. raised its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 112.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,874 shares of the company's stock after acquiring an additional 10,000 shares during the period. Maverick Capital Ltd.'s holdings in IAC were worth $867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hsbc Holdings PLC bought a new position in IAC during the 4th quarter valued at $292,000. Aquatic Capital Management LLC acquired a new stake in shares of IAC in the fourth quarter valued at $135,000. Northern Trust Corp boosted its stake in IAC by 6.8% during the fourth quarter. Northern Trust Corp now owns 467,587 shares of the company's stock valued at $20,172,000 after buying an additional 29,627 shares in the last quarter. AQR Capital Management LLC grew its holdings in IAC by 58.2% during the fourth quarter. AQR Capital Management LLC now owns 167,488 shares of the company's stock worth $7,194,000 after acquiring an additional 61,627 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its position in IAC by 806.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,352 shares of the company's stock worth $1,913,000 after acquiring an additional 39,458 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Stock Up 1.1%

IAC stock traded up $0.40 during midday trading on Friday, reaching $37.19. The company had a trading volume of 1,613,994 shares, compared to its average volume of 1,135,360. The company has a 50 day moving average of $37.86 and a two-hundred day moving average of $38.70. The company has a market capitalization of $2.77 billion, a P/E ratio of -6.90 and a beta of 1.26. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.40. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $2.87. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same period last year, the business earned ($1.71) EPS. The business's quarterly revenue was down 7.5% on a year-over-year basis. On average, equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IAC has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen upgraded IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial decreased their price target on IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. KeyCorp cut their price objective on IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Finally, Oppenheimer dropped their target price on shares of IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $47.92.

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.