Jacobs Levy Equity Management Inc. Purchases New Position in IAC Inc. $IAC

Key Points

• Jacobs Levy Equity Management Inc. has purchased a new stake in IAC Inc., investing approximately $685,000 for 14,916 shares during the first quarter.
• Several institutional investors, including JPMorgan Chase & Co. and Southeastern Asset Management Inc., have also increased their stakes in IAC, indicating stronger institutional interest.
• Despite a positive earnings report, analysts have lowered their target prices for IAC, with an average target price of $47.92 and a consensus rating of "Moderate Buy."

Jacobs Levy Equity Management Inc. bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,916 shares of the company's stock, valued at approximately $685,000.

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of IAC by 11.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company's stock worth $250,447,000 after buying an additional 557,134 shares during the last quarter. Southeastern Asset Management Inc. TN increased its position in IAC by 21.3% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after acquiring an additional 483,613 shares during the period. Davis Selected Advisers increased its position in IAC by 0.8% during the first quarter. Davis Selected Advisers now owns 2,657,782 shares of the company's stock worth $122,099,000 after acquiring an additional 22,158 shares during the period. Burgundy Asset Management Ltd. bought a new position in IAC during the first quarter worth about $66,556,000. Finally, Charles Schwab Investment Management Inc. increased its position in IAC by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company's stock worth $46,638,000 after acquiring an additional 47,944 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IAC shares. JMP Securities lowered their price target on shares of IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 10th. Benchmark lowered their price target on shares of IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group raised their price target on shares of IAC from $38.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, KeyCorp lowered their price target 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. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

IAC Price Performance

Shares of IAC stock traded up $1.02 during midday trading on Thursday, hitting $38.00. 1,412,530 shares of the company traded hands, compared to its average volume of 1,155,130. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -7.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The firm's fifty day moving average price is $37.38 and its 200-day moving average price is $38.11. IAC Inc. has a 12 month low of $32.04 and a 12 month high of $55.40.

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

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.