Charles Schwab Investment Management Inc. Has $46.64 Million Position in IAC Inc. $IAC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in IAC Inc. by 5.0% in Q1, owning over 1 million shares worth approximately $46.6 million.
• Multiple institutions, such as TD Private Client Wealth and Parallel Advisors LLC, dramatically increased their holdings in IAC during the same period, contributing to a total of 88.90% institutional ownership.
• Analysts have mixed opinions on IAC, with Goldman Sachs and Barclays lowering their price targets, while the stock has an average rating of "Moderate Buy" and a consensus target price of $47.92.

Charles Schwab Investment Management Inc. raised its position in IAC Inc. (NASDAQ:IAC - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,015,204 shares of the company's stock after acquiring an additional 47,944 shares during the period. Charles Schwab Investment Management Inc. owned about 1.31% of IAC worth $46,638,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Parallel Advisors LLC raised its holdings in IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after acquiring an additional 583 shares in the last quarter. Fifth Third Bancorp raised its holdings in IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after acquiring an additional 507 shares in the last quarter. Versant Capital Management Inc raised its holdings 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 raised its holdings in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after acquiring an additional 520 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Performance

NASDAQ IAC traded up $0.33 during trading on Tuesday, reaching $35.57. 1,140,952 shares of the company's stock were exchanged, compared to its average volume of 1,106,274. IAC Inc. has a fifty-two week low of $32.04 and a fifty-two week high of $55.40. The business has a 50 day moving average price of $38.04 and a 200-day moving average price of $39.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market capitalization of $2.65 billion, a P/E ratio of -6.60 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $601.38 million. During the same quarter in the prior year, the business earned ($1.71) earnings per share. The firm's revenue for the quarter was down 7.5% on a year-over-year basis. Sell-side analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on IAC. Barclays cut their price target on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. UBS Group raised their price target on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Cowen reissued a "buy" rating on shares of IAC in a research note on Monday, May 5th. Citigroup lowered their target price on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Oppenheimer reduced their price target on IAC from $60.00 to $55.00 and set an "outperform" rating on the stock 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.92.

IAC 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.