Royal Bank of Canada Trims Stake in IAC Inc. (NASDAQ:IAC)

Royal Bank of Canada decreased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 398,652 shares of the company's stock after selling 8,045 shares during the quarter. Royal Bank of Canada owned 0.50% of IAC worth $17,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Applied Fundamental Research LLC increased its position in IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock valued at $17,955,000 after acquiring an additional 44,835 shares during the last quarter. Bryce Point Capital LLC purchased a new position in shares of IAC in the fourth quarter worth approximately $595,000. Barclays PLC boosted its stake in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company's stock worth $3,268,000 after acquiring an additional 54,797 shares during the last quarter. Proficio Capital Partners LLC grew 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. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of IAC by 2.0% in 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. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 0.9%

Shares of IAC stock traded down $0.34 during trading hours on Friday, reaching $35.98. 118,102 shares of the company's stock were exchanged, compared to its average volume of 790,883. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average is $36.93 and its 200-day moving average is $42.08. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -5.51 and a beta of 1.24.

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

Wall Street Analyst Weigh In

IAC has been the subject of several recent research reports. Cowen reissued a "buy" rating on shares of IAC in a report on Monday, May 5th. Oppenheimer reduced their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased 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. Finally, JMP Securities dropped their target price on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.