Parkside Investments LLC Sells 7,845 Shares of IAC Inc. (NASDAQ:IAC)

Parkside Investments LLC lessened its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 197,817 shares of the company's stock after selling 7,845 shares during the quarter. IAC comprises about 1.3% of Parkside Investments LLC's portfolio, making the stock its 27th largest holding. Parkside Investments LLC owned approximately 0.26% of IAC worth $9,088,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Applied Fundamental Research LLC increased its holdings in shares of IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock worth $17,955,000 after purchasing an additional 44,835 shares during the period. Bryce Point Capital LLC acquired a new position in IAC in the 4th quarter valued at $595,000. Proficio Capital Partners LLC lifted its position in shares of IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after acquiring an additional 224,131 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of IAC by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock worth $41,728,000 after purchasing an additional 19,148 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of IAC by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after purchasing an additional 43,772 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Trading Down 2.2%

Shares of IAC stock traded down $0.80 on Friday, hitting $35.75. The company had a trading volume of 811,827 shares, compared to its average volume of 816,303. The stock's 50-day moving average is $35.70 and its two-hundred day moving average is $41.31. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The firm has a market cap of $2.65 billion, a P/E ratio of -5.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IAC shares. Piper Sandler dropped their price target on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. KeyCorp decreased their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of IAC in a report on Monday, May 5th. JMP Securities decreased their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research note on Tuesday. Finally, Barclays decreased their price target on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.08.

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.