IAC Inc. $IAC Shares Sold by Levin Capital Strategies L.P.

Key Points

• Levin Capital Strategies L.P. reduced its IAC stake by 10.2% in Q4, selling 44,657 shares and ending the period with 394,916 shares (~0.55% of IAC) valued at $15.44 million, its 27th largest holding.
• IAC missed quarterly expectations with an EPS loss of ($0.99) vs. $0.67 consensus, reported revenue of $645.98 million (down 34.7% year‑over‑year), and posted negative margins and ROE.
• Analyst sentiment is skewed positive with a consensus rating of "Moderate Buy" and a $49.38 average price target; the company has a market cap of about $3.17 billion and roughly 88.9% institutional ownership.

Levin Capital Strategies L.P. reduced its position in IAC Inc. (NASDAQ:IAC - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 394,916 shares of the company's stock after selling 44,657 shares during the quarter. IAC comprises about 1.3% of Levin Capital Strategies L.P.'s holdings, making the stock its 27th largest position. Levin Capital Strategies L.P. owned approximately 0.55% of IAC worth $15,441,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in IAC by 13.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,251 shares of the company's stock valued at $1,261,000 after buying an additional 3,707 shares during the period. Comerica Bank increased its stake in IAC by 7.2% in the 4th quarter. Comerica Bank now owns 29,061 shares of the company's stock valued at $1,136,000 after buying an additional 1,952 shares during the period. Pictet Asset Management Holding SA increased its stake in IAC by 16.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,436 shares of the company's stock valued at $408,000 after buying an additional 1,445 shares during the period. UBS Group AG increased its stake in IAC by 11.4% in the 4th quarter. UBS Group AG now owns 781,195 shares of the company's stock valued at $30,545,000 after buying an additional 79,755 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in IAC by 45.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,950 shares of the company's stock valued at $506,000 after buying an additional 4,033 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

Shares of NASDAQ IAC opened at $44.58 on Thursday. The firm has a market capitalization of $3.17 billion, a P/E ratio of -33.52 and a beta of 1.06. IAC Inc. has a one year low of $29.56 and a one year high of $45.82. The company's fifty day moving average is $39.85 and its two-hundred day moving average is $37.51. 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 (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $641.01 million. During the same quarter in the prior year, the firm earned ($2.39) earnings per share. IAC's quarterly revenue was down 34.7% on a year-over-year basis. Analysts forecast that IAC Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on IAC. Wall Street Zen upgraded shares of IAC from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. The Goldman Sachs Group boosted their target price on shares of IAC from $48.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday. UBS Group restated a "neutral" rating and set a $42.00 target price on shares of IAC in a research report on Friday, February 6th. KeyCorp boosted their target price on shares of IAC from $41.00 to $51.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of IAC from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.38.

About IAC

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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