Invesco Ltd. Has $14.91 Million Stock Position in IAC Inc. $IAC

Key Points

• Invesco Ltd. reduced its stake in IAC Inc. by 4.9% in the first quarter, ending up with 324,621 shares valued at approximately $14.9 million.
• Several institutional investors have significantly increased their holdings in IAC, including TD Private Client Wealth LLC and Parallel Advisors LLC, with increases of 282.2% and 1,422.0%, respectively.
• IAC recently reported an EPS of $2.57 for the quarter, exceeding analysts' expectations, despite a 7.5% decline in revenue compared to the previous year.

Invesco Ltd. cut its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,621 shares of the company's stock after selling 16,886 shares during the quarter. Invesco Ltd. owned about 0.44% of IAC worth $14,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares during the period. Fifth Third Bancorp raised its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after acquiring an additional 507 shares during the period. Versant Capital Management Inc lifted its position in IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after acquiring an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in IAC by 219.4% during the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after purchasing an additional 520 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Performance

IAC stock traded up $0.66 during midday trading on Wednesday, reaching $36.63. 550,668 shares of the company's stock were exchanged, compared to its average volume of 1,105,553. The stock's 50-day simple moving average is $37.90 and its 200 day simple moving average is $39.11. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -6.80 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. IAC Inc. has a 52 week low of $32.04 and a 52 week high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last posted its 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 business had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. During the same period in the previous year, the firm earned ($1.71) EPS. The firm's revenue was down 7.5% compared to the same quarter last year. On average, analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on IAC. Oppenheimer cut their price target on IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Barclays reduced their price target on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Truist Financial lowered their price objective on shares of IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group raised their target price on shares of IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.92.

About IAC

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.