Tandem Capital Management Corp ADV reduced its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 23.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,040 shares of the company's stock after selling 10,324 shares during the period. Tandem Capital Management Corp ADV's holdings in IAC were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in IAC. Commonwealth Equity Services LLC increased its holdings in shares of IAC by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after purchasing an additional 320 shares during the period. Versant Capital Management Inc increased its holdings in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after purchasing an additional 369 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after purchasing an additional 457 shares during the period. Fifth Third Bancorp increased its holdings in shares of IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after purchasing an additional 507 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after purchasing an additional 520 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.
IAC Stock Performance
Shares of IAC stock opened at $37.14 on Friday. The company has a market capitalization of $2.75 billion, a P/E ratio of -3.84 and a beta of 1.23. The business's 50 day moving average is $36.03 and its two-hundred day moving average is $40.82. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.30. 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 (EPS) for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. IAC's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. Analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on IAC. UBS Group cut their price objective on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Citigroup cut their price objective on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Cowen reissued a "buy" rating on shares of IAC in a report on Monday, May 5th. The Goldman Sachs Group lowered 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. Finally, JMP Securities lowered their target price on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.08.
Check Out Our Latest Stock Analysis on IAC
About IAC
(
Free Report)
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.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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