Paradigm Capital Management Inc. NY Cuts Stake in IAC Inc. (NASDAQ:IAC)

Paradigm Capital Management Inc. NY trimmed its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 76.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the company's stock after selling 19,625 shares during the period. Paradigm Capital Management Inc. NY's holdings in IAC were worth $259,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its stake in shares of IAC by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after buying an additional 320 shares during the last quarter. Aster Capital Management DIFC Ltd grew 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 acquiring an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in IAC by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company's stock worth $1,654,000 after purchasing an additional 531 shares during the period. KBC Group NV lifted its position in IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after purchasing an additional 608 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in IAC by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company's stock valued at $4,188,000 after purchasing an additional 659 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 0.6%

Shares of NASDAQ:IAC traded down $0.22 during trading on Friday, hitting $36.31. The stock had a trading volume of 889,421 shares, compared to its average volume of 790,465. The company has a market capitalization of $2.69 billion, a PE ratio of -5.57 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm's fifty day moving average is $37.91 and its 200 day moving average is $42.49. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. Analysts anticipate that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IAC shares. Piper Sandler decreased their target price on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. UBS Group cut their price target on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Citigroup lowered their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. KeyCorp dropped their target price 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. Finally, The Goldman Sachs Group cut their target price on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.38.

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.