Oak Thistle LLC Buys New Shares in IAC Inc. $IAC

Key Points

• Oak Thistle LLC bought a new stake of 31,162 shares in IAC Inc., valued at about $1.22 million during the fourth quarter.
• IAC reported quarterly EPS of ($0.99), missing estimates by $1.66, with revenue down 34.7% year-over-year and a negative net margin, signaling near-term profitability pressure.
• Analysts' consensus is a Moderate Buy with an average price target of $47.62, and several firms have recently raised targets or ratings (e.g., Needham $57, Citi $44, JPMorgan $46).

Oak Thistle LLC bought a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,162 shares of the company's stock, valued at approximately $1,218,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC acquired a new position in IAC in the fourth quarter valued at $25,000. Advisory Services Network LLC acquired a new position in IAC in the third quarter valued at $38,000. JFS Wealth Advisors LLC acquired a new position in IAC in the third quarter valued at $39,000. North Capital Inc. lifted its holdings in IAC by 50.1% in the third quarter. North Capital Inc. now owns 3,001 shares of the company's stock valued at $102,000 after buying an additional 1,001 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in IAC by 96.2% in the second quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company's stock valued at $114,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IAC. Needham & Company LLC set a $57.00 target price on shares of IAC in a report on Tuesday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of IAC from $43.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, December 12th. Wall Street Zen upgraded shares of IAC from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Citigroup boosted their target price on shares of IAC from $38.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Finally, UBS Group restated a "neutral" rating and issued a $42.00 target price on shares of IAC in a report on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, IAC has an average rating of "Moderate Buy" and an average price target of $47.62.

IAC Price Performance

Shares of NASDAQ IAC opened at $40.87 on Friday. The firm's 50-day moving average price is $37.63 and its 200-day moving average price is $36.57. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $41.86. The firm has a market capitalization of $2.91 billion, a P/E ratio of -30.73 and a beta of 1.06. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. During the same quarter in the prior year, the company posted ($2.39) EPS. IAC's revenue for the quarter was down 34.7% on a year-over-year basis. Equities research analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

IAC 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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