Millennium Management LLC Has $10.77 Million Position in IAC Inc. (NASDAQ:IAC)

Millennium Management LLC boosted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 1,666.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,603 shares of the company's stock after purchasing an additional 235,476 shares during the quarter. Millennium Management LLC owned about 0.31% of IAC worth $10,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in shares of IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock worth $497,000 after buying an additional 320 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the period. Illinois Municipal Retirement Fund lifted its position in IAC by 1.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company's stock worth $1,654,000 after acquiring an additional 531 shares during the last quarter. KBC Group NV boosted its holdings in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after acquiring an additional 608 shares during the period. Finally, Sanctuary Advisors LLC grew its position in shares of IAC by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company's stock valued at $4,188,000 after purchasing an additional 659 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Price Performance

IAC traded up $0.16 on Thursday, reaching $36.67. The stock had a trading volume of 156,209 shares, compared to its average volume of 789,613. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The firm has a 50-day moving average of $37.21 and a 200-day moving average of $42.21. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -5.62 and a beta of 1.24.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The business's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IAC shares. JPMorgan Chase & Co. dropped 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. Barclays dropped their target price on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Oppenheimer cut their price objective on shares of IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. KeyCorp lowered their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Piper Sandler cut their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $55.38.

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.