MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 9,604 Shares of IAC Inc. (NASDAQ:IAC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,376 shares of the company's stock after selling 9,604 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in IAC were worth $1,569,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd boosted its position in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of IAC in the 4th quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of IAC during the 4th quarter valued at $135,000. Finally, Allworth Financial LP lifted its position in shares of IAC by 1,193.4% during the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after acquiring an additional 3,079 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Down 1.1%

NASDAQ IAC traded down $0.41 on Wednesday, reaching $36.75. The stock had a trading volume of 404,064 shares, compared to its average volume of 788,712. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The business has a 50 day moving average price of $37.44 and a 200 day moving average price of $42.25. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -5.65 and a beta of 1.24.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $0.51 EPS. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. On average, analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Cowen restated a "buy" rating on shares of IAC in a report on Monday, May 5th. Citigroup decreased their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Piper Sandler cut their target price on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays decreased their target price on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.38.

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.