Joel Isaacson & Co. LLC Cuts Position in IAC Inc. $IAC

Key Points

• Joel Isaacson & Co. LLC cut its IAC stake by 33.9% in Q4, selling 90,000 shares to hold 175,098 shares (~0.24% of the company) valued at $6.85 million.
• Several large firms (Patient Capital, AQR, Newtyn, UBS) increased their IAC positions and institutional/hedge funds now own roughly 88.9% of the stock, signaling heavy but mixed institutional interest.
• IAC missed quarterly EPS at ($0.99) versus $0.67 expected and revenue fell 34.7% year‑over‑year, yet analysts have raised price targets and the consensus rating is Moderate Buy with an average target near $49.15.

Joel Isaacson & Co. LLC reduced its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 33.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 175,098 shares of the company's stock after selling 90,000 shares during the period. Joel Isaacson & Co. LLC owned approximately 0.24% of IAC worth $6,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Patient Capital Management LLC lifted its stake in shares of IAC by 21.2% in the third quarter. Patient Capital Management LLC now owns 2,108,245 shares of the company's stock valued at $71,828,000 after purchasing an additional 369,239 shares during the period. AQR Capital Management LLC grew its position in IAC by 43.8% during the third quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company's stock worth $39,122,000 after buying an additional 349,969 shares during the period. Newtyn Management LLC grew its position in IAC by 10.0% during the third quarter. Newtyn Management LLC now owns 1,100,000 shares of the company's stock worth $37,477,000 after buying an additional 100,000 shares during the period. Arkhouse Management Co. LP increased its holdings in IAC by 0.3% in the third quarter. Arkhouse Management Co. LP now owns 800,061 shares of the company's stock valued at $27,258,000 after buying an additional 2,391 shares in the last quarter. Finally, UBS Group AG increased its holdings in IAC by 11.4% in the fourth quarter. UBS Group AG now owns 781,195 shares of the company's stock valued at $30,545,000 after buying an additional 79,755 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Down 1.2%

Shares of NASDAQ IAC opened at $44.08 on Wednesday. The firm's 50-day moving average is $39.68 and its two-hundred day moving average is $37.46. The company has a market capitalization of $3.13 billion, a PE ratio of -33.14 and a beta of 1.06. IAC Inc. has a 12-month low of $29.56 and a 12-month high of $45.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business had revenue of $645.98 million for the quarter, compared to analysts' expectations of $641.01 million. During the same period last year, the business earned ($2.39) earnings per share. The company's revenue for the quarter was down 34.7% on a year-over-year basis. Equities analysts anticipate that IAC Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IAC shares. Needham & Company LLC set a $57.00 price target on IAC in a research note on Tuesday, March 3rd. KeyCorp raised their price objective on IAC from $41.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group lifted their price objective on IAC from $48.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday. Citigroup boosted their target price on IAC from $38.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised IAC from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.15.

IAC Company Profile

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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