IAC Inc. (NASDAQ:IAC) Position Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 94.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,721 shares of the company's stock after buying an additional 26,616 shares during the period. QRG Capital Management Inc. owned 0.07% of IAC worth $2,514,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its position in IAC by 287.4% during the 4th 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. Parallel Advisors LLC grew 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 grew 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 grew its stake in IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after acquiring an additional 369 shares during the period. Finally, GAMMA Investing LLC grew its stake in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after acquiring an additional 520 shares during the period. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Up 0.9%

IAC traded up $0.33 on Friday, reaching $37.14. The company's stock had a trading volume of 2,441,836 shares, compared to its average volume of 827,619. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -3.84 and a beta of 1.23. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.70 and a quick ratio of 2.70. The business's 50 day moving average is $36.03 and its 200 day moving average is $40.82.

IAC (NASDAQ:IAC - Get Free Report) last released 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 company had revenue of $570.49 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. As a group, research analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IAC. Piper Sandler lowered their price objective on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. JMP Securities lowered their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday, June 10th. Barclays lowered their price target on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Cowen reissued a "buy" rating on shares of IAC in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $54.08.

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.