Point72 Asset Management L.P. Takes $6.28 Million Position in IAC Inc. (NASDAQ:IAC)

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

A number of other hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd lifted its position in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in IAC during the fourth quarter valued at approximately $41,000. MassMutual Private Wealth & Trust FSB grew its holdings in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after purchasing an additional 1,916 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in IAC during the fourth quarter valued at approximately $135,000. Finally, Allworth Financial LP grew its holdings in IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after purchasing an additional 3,079 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Down 0.8%

Shares of NASDAQ IAC opened at $37.50 on Tuesday. The stock has a market cap of $2.78 billion, a PE ratio of -5.75 and a beta of 1.24. The business has a fifty day moving average of $38.63 and a two-hundred day moving average of $42.84. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $55.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

IAC (NASDAQ:IAC - Get Free Report) last released 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. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IAC. JMP Securities lowered their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Barclays reduced their target price on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Piper Sandler reduced their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. UBS Group reduced their target price on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup reduced their target price on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, IAC presently has an average rating of "Moderate Buy" and an average price target of $55.38.

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.

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