IAC Inc. $IAC Shares Bought by Davis Selected Advisers

Key Points

• Davis Selected Advisers increased its stake in IAC by 12.1% in Q4 to 2,514,072 shares, now owning about 3.51% of the company (≈$98.3M); institutional investors hold roughly 88.9% of IAC.
• IAC reported a Q quarter EPS of ($0.99) versus a $0.67 consensus (a $1.66 miss), while revenue was $646M—roughly in line with estimates but down 34.7% year-over-year, leaving negative net margin and ROE.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" (10 Buys, 4 Holds, 1 Sell) and a $49.38 average price target, with several firms recently raising targets into the $51–$60 range.

Davis Selected Advisers raised its position in IAC Inc. (NASDAQ:IAC - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,514,072 shares of the company's stock after purchasing an additional 270,383 shares during the quarter. Davis Selected Advisers owned about 3.51% of IAC worth $98,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in IAC. Elevation Wealth Partners LLC acquired a new stake in shares of IAC in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new position in shares of IAC during the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC acquired a new position in shares of IAC during the third quarter valued at approximately $39,000. iSAM Funds UK Ltd acquired a new position in shares of IAC during the third quarter valued at approximately $113,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of IAC by 96.2% during the second 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 period. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Trading Up 0.9%

IAC stock opened at $44.97 on Friday. The company has a 50 day moving average price of $40.01 and a 200 day moving average price of $37.56. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $45.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -33.81 and a beta of 1.06.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) 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 firm had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. During the same period in the prior year, the business posted ($2.39) EPS. The company's revenue for the quarter was down 34.7% on a year-over-year basis. Research analysts forecast that IAC Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IAC. Weiss Ratings reiterated a "sell (d-)" rating on shares of IAC in a research note on Thursday, January 22nd. KeyCorp raised their price objective on shares of IAC from $41.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Benchmark raised 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. The Goldman Sachs Group raised 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. Finally, Wall Street Zen upgraded shares of IAC from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.38.

IAC Company 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.

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