IAC Inc. (NASDAQ:IAC) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP decreased its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 63.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,514 shares of the company's stock after selling 12,883 shares during the period. Quantinno Capital Management LP's holdings in IAC were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IAC. Corvex Management LP boosted its stake in shares of IAC by 61.8% during the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after buying an additional 920,875 shares during the period. Norges Bank acquired a new stake in shares of IAC during the fourth quarter worth about $38,817,000. Joel Isaacson & Co. LLC boosted its stake in shares of IAC by 553.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after buying an additional 359,327 shares during the period. Brown Advisory Inc. boosted its stake in shares of IAC by 87.9% during the fourth quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock worth $32,967,000 after buying an additional 357,442 shares during the period. Finally, Highbridge Capital Management LLC boosted its stake in shares of IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after buying an additional 242,982 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IAC shares. Piper Sandler reduced their price objective 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. Citigroup dropped their target price on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. Benchmark dropped their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Barclays dropped their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Truist Financial dropped their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.38.

IAC Trading Down 0.6%

NASDAQ IAC traded down $0.22 during mid-day trading on Thursday, reaching $36.29. 398,496 shares of the stock were exchanged, compared to its average volume of 790,655. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.40. The business's fifty day simple moving average is $37.21 and its 200 day simple moving average is $42.21. The stock has a market capitalization of $2.69 billion, a PE ratio of -5.56 and a beta of 1.24. 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 announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating analysts' consensus estimates of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. IAC's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, research analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal 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.