Lecap Asset Management Ltd. Purchases Shares of 9,707 IAC Inc. $IAC

Lecap Asset Management Ltd. acquired a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,707 shares of the company's stock, valued at approximately $362,000.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC lifted its stake in IAC by 64.8% in the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company's stock valued at $146,000 after acquiring an additional 1,253 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of IAC in the first quarter worth $1,107,000. Royal Bank of Canada lifted its position in shares of IAC by 12.7% in the first quarter. Royal Bank of Canada now owns 449,115 shares of the company's stock worth $20,632,000 after purchasing an additional 50,463 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in IAC by 112.7% during the first quarter. Maverick Capital Ltd. now owns 18,874 shares of the company's stock worth $867,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in IAC in the first quarter valued at $2,590,000. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Performance

IAC opened at $34.59 on Friday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.16. The business has a 50 day moving average of $36.08 and a 200-day moving average of $37.36. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -6.42 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share 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 business had revenue of $586.93 million for the quarter, compared to analysts' expectations of $601.38 million. During the same quarter in the prior year, the business earned ($1.71) EPS. The firm's revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IAC shares. Weiss Ratings reissued a "sell (d-)" rating on shares of IAC in a research report on Saturday, September 27th. Wall Street Zen upgraded IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group increased their price target on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. JMP Securities lowered their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 10th. Finally, KeyCorp dropped their price objective on IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IAC presently has a consensus rating of "Moderate Buy" and an average target price of $47.92.

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.

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.