Rhumbline Advisers Sells 7,710 Shares of IAC Inc. (NASDAQ:IAC)

Rhumbline Advisers lessened its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,615 shares of the company's stock after selling 7,710 shares during the period. Rhumbline Advisers owned approximately 0.22% of IAC worth $7,976,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IAC. Aster Capital Management DIFC Ltd raised 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 valued at $27,000 after buying an additional 457 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares during the last quarter. Versant Capital Management Inc grew its stake in IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after purchasing an additional 369 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in IAC in the fourth quarter worth $41,000. Finally, Aquatic Capital Management LLC bought a new position in shares of IAC during the fourth quarter valued at approximately $135,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Trading Down 1.5%

Shares of NASDAQ IAC traded down $0.55 during mid-day trading on Thursday, hitting $36.55. The company's stock had a trading volume of 775,889 shares, compared to its average volume of 814,383. IAC Inc. has a one year low of $32.05 and a one year high of $55.40. The company's fifty day simple moving average is $35.70 and its 200-day simple moving average is $41.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -5.61 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.18% and a negative return on equity of 7.98%. The firm had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. During the same period last year, the firm earned $0.51 earnings per share. The business's revenue for the quarter was down 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. KeyCorp lowered their price target on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Cowen reiterated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Citigroup reduced their price objective on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Benchmark decreased their price target on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.