Vanguard Group Inc. Sells 74,593 Shares of IAC Inc. $IAC

Key Points

• Vanguard Group Inc. has decreased its holdings in IAC Inc. by 0.9%, owning approximately 10.11% of the company, valued at $359.8 million after selling 74,593 shares.
• Several institutional investors significantly increased their stakes in IAC during the same period, with TD Private Client Wealth LLC raising its stake by 282.2%.
• Analysts have varied opinions on IAC, with price targets ranging from $41.00 to $52.00, reflecting a consensus rating of "Moderate Buy" with a target price of $47.92.

Vanguard Group Inc. cut its position in IAC Inc. (NASDAQ:IAC - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,832,144 shares of the company's stock after selling 74,593 shares during the quarter. Vanguard Group Inc. owned 10.11% of IAC worth $359,809,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after purchasing an additional 429 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after purchasing an additional 583 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of IAC by 426.1% during the 1st 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 last quarter. Versant Capital Management Inc grew its holdings in shares of IAC by 118.6% during the 1st 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 last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of IAC by 219.4% during the 1st 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 last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Performance

Shares of NASDAQ IAC traded up $0.33 during trading on Tuesday, reaching $35.57. 1,140,952 shares of the stock traded hands, compared to its average volume of 1,106,274. IAC Inc. has a 52-week low of $32.04 and a 52-week high of $55.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The company has a 50-day moving average of $38.04 and a 200-day moving average of $39.37. The stock has a market capitalization of $2.65 billion, a P/E ratio of -6.60 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $2.87. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. During the same period in the previous year, the company posted ($1.71) EPS. The firm's revenue for the quarter was down 7.5% compared to the same quarter last year. Analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. KeyCorp cut their target price on shares of IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 6th. Citigroup cut their target price on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Oppenheimer cut their target price on shares of IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler cut their target price on shares of IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, IAC presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

About IAC

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.