IAC Inc. (NASDAQ:IAC) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 255.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,678 shares of the company's stock after acquiring an additional 14,146 shares during the quarter. Pallas Capital Advisors LLC's holdings in IAC were worth $904,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in shares of IAC by 2.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after buying an additional 320 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after buying an additional 369 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after buying an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of IAC by 1.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company's stock valued at $1,654,000 after buying an additional 531 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price target on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Truist Financial decreased their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Oppenheimer decreased their price objective on shares of IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Piper Sandler decreased 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. Finally, Benchmark decreased their price objective on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.08.

IAC Stock Performance

NASDAQ:IAC traded down $0.55 during midday trading on Thursday, hitting $36.55. The company's stock had a trading volume of 775,889 shares, compared to its average volume of 814,383. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The firm's 50 day moving average is $35.70 and its 200-day moving average is $41.31. 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 firm has a market cap of $2.71 billion, a P/E ratio of -5.61 and a beta of 1.23.

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

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.