IAC Inc. (NASDAQ:IAC) Shares Sold by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC has significantly reduced its stake in IAC Inc. by 71.8% during Q1, now holding only 4,409 shares valued at $203,000.
• Institutional investors now control 88.90% of IAC's stock, with notable increases in holdings by other hedge funds, including a 1,422.0% rise from Parallel Advisors LLC.
• Several research firms have downgraded IAC’s price targets, with JMP Securities lowering theirs from $64 to $47, while the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $54.08.

Marco Investment Management LLC lowered its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 71.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,409 shares of the company's stock after selling 11,250 shares during the period. Marco Investment Management LLC's holdings in IAC were worth $203,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IAC. TD Private Client Wealth LLC raised its position in IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after buying an additional 429 shares during the last quarter. Aster Capital Management DIFC Ltd raised its position in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after buying an additional 457 shares during the last quarter. Parallel Advisors LLC raised its position in IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after buying an additional 583 shares during the last quarter. Fifth Third Bancorp raised its position in IAC by 426.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after buying an additional 507 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in IAC by 118.6% during the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after buying an additional 369 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on IAC shares. Cowen restated a "buy" rating on shares of IAC in a research report on Monday, May 5th. Barclays cut their price target on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. The Goldman Sachs Group cut their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. JMP Securities cut their price target on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday, June 10th. Finally, KeyCorp cut their price target on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.08.

IAC Price Performance

NASDAQ:IAC traded down $0.47 during mid-day trading on Friday, hitting $38.83. 1,062,226 shares of the company's stock traded hands, compared to its average volume of 692,574. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 2.70. The firm's 50 day simple moving average is $38.24 and its 200 day simple moving average is $39.98. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.40. The company has a market cap of $2.88 billion, a PE ratio of -4.02 and a beta of 1.23.

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. Sell-side analysts expect that IAC Inc. will post 0.43 EPS for the current year.

IAC Company 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.