QRG Capital Management Inc. Has $2.51 Million Stake in IAC Inc. (NASDAQ:IAC)

QRG Capital Management Inc. grew its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 94.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,721 shares of the company's stock after acquiring an additional 26,616 shares during the quarter. QRG Capital Management Inc. owned 0.07% of IAC worth $2,514,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Applied Fundamental Research LLC lifted its stake in shares of IAC by 12.1% in the 4th quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock valued at $17,955,000 after acquiring an additional 44,835 shares during the last quarter. Bryce Point Capital LLC acquired a new position in IAC in the 4th quarter worth about $595,000. Proficio Capital Partners LLC raised its position in IAC by 4,238.5% in the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after purchasing an additional 224,131 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in IAC by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock valued at $41,728,000 after purchasing an additional 19,148 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of IAC by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock valued at $341,097,000 after purchasing an additional 43,772 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. KeyCorp lowered their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays reduced their target price on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Piper Sandler decreased their price target 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. Cowen reiterated a "buy" rating on shares of IAC in a report on Monday, May 5th. Finally, UBS Group reduced their price objective on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research note 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.08.

IAC Trading Down 1.0%

NASDAQ IAC traded down $0.39 during mid-day trading on Thursday, reaching $36.81. 1,196,402 shares of the stock were exchanged, compared to its average volume of 821,903. The stock has a market cap of $2.73 billion, a P/E ratio of -3.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.70 and a quick ratio of 2.70. IAC Inc. has a one year low of $32.05 and a one year high of $55.40. The stock has a 50 day simple moving average of $35.93 and a 200-day simple moving average of $41.02.

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 analysts' consensus estimates 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 11.11% and a negative net margin of 23.25%. The business's revenue was down 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. On average, analysts anticipate that IAC Inc. will post 0.43 EPS for the current 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.