Petrus Trust Company LTA Sells 7,435 Shares of IAC Inc. $IAC

Key Points

• Petrus Trust Company LTA reduced its stake in IAC Inc. by 40.7%, resulting in ownership of 10,816 shares valued at $497,000.
• Several institutional investors have recently increased their stakes in IAC, including AQR Capital Management, which raised its stake by 422.9% in the 1st quarter, now holding 875,820 shares.
• IAC reported a negative net margin of 14.52% with a loss of $1.71 EPS during the same quarter last year, even as it topped analysts' earnings estimates for the quarter with $2.57 EPS.

Petrus Trust Company LTA lowered its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 40.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,816 shares of the company's stock after selling 7,435 shares during the quarter. Petrus Trust Company LTA's holdings in IAC were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its holdings in shares of IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after buying an additional 429 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after buying an additional 583 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after buying an additional 507 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after buying an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock valued at $35,000 after purchasing an additional 520 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IAC. Piper Sandler dropped their price target on IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. UBS Group boosted their price target on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Truist Financial dropped their price target on IAC from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Oppenheimer dropped their price target on IAC from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, JMP Securities dropped their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $47.92.

IAC Price Performance

IAC stock traded down $0.53 during midday trading on Friday, reaching $36.22. The company's stock had a trading volume of 379,150 shares, compared to its average volume of 1,110,978. IAC Inc. has a 52 week low of $32.04 and a 52 week high of $55.40. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $37.67 and a 200-day moving average price of $38.43. The stock has a market cap of $2.69 billion, a PE ratio of -6.73 and a beta of 1.26.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $2.87. The firm had revenue of $586.93 million for the quarter, compared to analysts' expectations of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The business's revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.71) earnings per share. On average, sell-side analysts predict 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.