IAC Inc. (NASDAQ:IAC) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,211 shares of the company's stock after selling 7,019 shares during the period. Nuveen Asset Management LLC owned 0.23% of IAC worth $7,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Corvex Management LP raised its position in IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after buying an additional 920,875 shares during the last quarter. Norges Bank purchased a new stake in IAC in the fourth quarter valued at $38,817,000. Joel Isaacson & Co. LLC lifted its holdings in shares of IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after buying an additional 359,327 shares during the period. Brown Advisory Inc. lifted its holdings in shares of IAC by 87.9% in the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock valued at $32,967,000 after buying an additional 357,442 shares during the period. Finally, Highbridge Capital Management LLC boosted its stake in shares of IAC by 223.5% in the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after buying an additional 242,982 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. KeyCorp lowered their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. UBS Group lowered their price target on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Cowen reaffirmed a "buy" rating on shares of IAC in a report on Monday, May 5th. The Goldman Sachs Group lowered their target price on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Benchmark reduced their price target on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.38.

IAC Price Performance

IAC traded up $0.71 on Tuesday, reaching $36.33. 831,728 shares of the company's stock were exchanged, compared to its average volume of 802,813. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $55.40. The stock has a market cap of $2.69 billion, a PE ratio of -5.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The stock's fifty day moving average price is $36.14 and its 200-day moving average price is $41.81.

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

IAC 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.