Point72 Asset Management L.P. Takes Position in IAC Inc. (NASDAQ:IAC)

Point72 Asset Management L.P. bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 145,661 shares of the company's stock, valued at approximately $6,284,000. Point72 Asset Management L.P. owned 0.18% of IAC at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Corvex Management LP lifted its stake in IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after acquiring an additional 920,875 shares in the last quarter. Norges Bank bought a new stake in IAC in the 4th quarter valued at approximately $38,817,000. Joel Isaacson & Co. LLC lifted its stake in 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 acquiring an additional 359,327 shares in the last quarter. Brown Advisory Inc. lifted its stake in 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 acquiring an additional 357,442 shares in the last quarter. Finally, Highbridge Capital Management LLC lifted its stake in IAC by 223.5% in the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock valued at $15,172,000 after acquiring an additional 242,982 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Cowen reiterated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Oppenheimer dropped their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Benchmark dropped their price objective on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Barclays decreased their target price on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, UBS Group decreased their target price on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Price Performance

Shares of IAC stock traded down $0.22 on Friday, hitting $36.31. 889,421 shares of the company's stock were exchanged, compared to its average volume of 790,465. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.40. The stock has a market cap of $2.69 billion, a P/E ratio of -5.57 and a beta of 1.24. The company has a 50 day moving average of $37.91 and a 200 day moving average of $42.41.

IAC (NASDAQ:IAC - Get Free Report) last posted its 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. The firm had revenue of $570.49 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts predict that IAC Inc. will post 0.43 EPS for the current year.

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.