Heritage Investors Management Corp Reduces Holdings in IAC Inc. (NASDAQ:IAC)

Heritage Investors Management Corp lowered its position in IAC Inc. (NASDAQ:IAC - Free Report) by 11.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,360 shares of the company's stock after selling 9,569 shares during the period. Heritage Investors Management Corp owned 0.09% of IAC worth $3,374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IAC. Vanguard Group Inc. raised its holdings in IAC by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after acquiring an additional 43,772 shares during the last quarter. Southeastern Asset Management Inc. TN grew its position in IAC by 21.3% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after purchasing an additional 483,613 shares during the period. Corvex Management LP grew its position in IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after purchasing an additional 920,875 shares during the period. ArrowMark Colorado Holdings LLC grew its position in IAC by 5.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock worth $72,029,000 after purchasing an additional 84,121 shares during the period. Finally, Asset Value Investors Ltd grew its position in shares of IAC by 9.4% during the 1st quarter. Asset Value Investors Ltd now owns 1,011,350 shares of the company's stock valued at $46,461,000 after acquiring an additional 87,100 shares during the period. Institutional investors own 88.90% of the company's stock.

IAC Stock Performance

IAC stock traded up $0.04 during trading hours on Thursday, reaching $41.18. 520,902 shares of the stock were exchanged, compared to its average volume of 1,031,539. The stock has a market cap of $3.05 billion, a P/E ratio of -4.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 2.70. IAC Inc. has a 52-week low of $32.04 and a 52-week high of $55.40. The firm's 50 day moving average is $37.91 and its 200 day moving average is $40.07.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. The firm had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. During the same period last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. Analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IAC. KeyCorp cut their price objective on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. JMP Securities decreased their target price on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reduced their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, UBS Group dropped their target price on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, IAC has a consensus rating of "Moderate Buy" and an average target price of $54.08.

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.