Tandem Capital Management Corp ADV Has $1.56 Million Stock Position in IAC Inc. (NASDAQ:IAC)

Tandem Capital Management Corp ADV trimmed its position in IAC Inc. (NASDAQ:IAC - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,040 shares of the company's stock after selling 10,324 shares during the quarter. Tandem Capital Management Corp ADV's holdings in IAC were worth $1,564,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in IAC in the 1st quarter valued at $813,000. QRG Capital Management Inc. raised its position in IAC by 94.7% in the 1st quarter. QRG Capital Management Inc. now owns 54,721 shares of the company's stock valued at $2,514,000 after purchasing an additional 26,616 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in IAC in the 1st quarter valued at about $1,107,000. Asset Value Investors Ltd raised its position in IAC by 9.4% in the 1st quarter. Asset Value Investors Ltd now owns 1,011,350 shares of the company's stock valued at $46,461,000 after purchasing an additional 87,100 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of IAC by 426.1% in the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after acquiring an additional 507 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Trading Down 2.0%

IAC stock traded down $0.73 during mid-day trading on Wednesday, hitting $36.39. 1,050,738 shares of the company's stock were exchanged, compared to its average volume of 832,962. The firm has a market capitalization of $2.69 billion, a P/E ratio of -3.76 and a beta of 1.23. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The company's 50 day simple moving average is $36.16 and its 200-day simple moving average is $40.67.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($2.80) EPS for the quarter, topping the consensus estimate of ($3.94) by $1.14. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. The business had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. During the same quarter last year, the business posted $0.51 EPS. The firm's revenue was down 8.6% compared to the same quarter last year. On average, equities analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays dropped their price target on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of IAC in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. UBS Group cut their price target on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Citigroup lowered their price objective on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

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.