IAC Inc. $IAC Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in IAC Inc. by 36.5%, owning approximately 0.20% of the company's stock, valued at $6.8 million.
• Several hedge funds, including Public Sector Pension Investment Board, significantly increased their holdings in IAC during the first quarter, indicating growing institutional interest.
• Despite challenging quarterly earnings, with a negative net margin of 14.52%, analysts maintain a consensus rating of "Moderate Buy" for IAC with an average target price of $47.92.

Russell Investments Group Ltd. lifted its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 36.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,907 shares of the company's stock after purchasing an additional 39,579 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of IAC worth $6,795,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its stake in shares of IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Parallel Advisors LLC increased its holdings in IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after purchasing an additional 583 shares during the period. Fifth Third Bancorp raised its position in IAC by 426.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after purchasing an additional 507 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 369 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of IAC by 219.4% during the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after buying an additional 520 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Trading Down 1.3%

Shares of IAC traded down $0.4650 during trading on Monday, reaching $35.9650. 444,873 shares of the company traded hands, compared to its average volume of 1,105,133. The stock has a 50-day simple moving average of $37.97 and a 200-day simple moving average of $39.18. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a twelve month low of $32.04 and a twelve month high of $55.40. The stock has a market cap of $2.67 billion, a PE ratio of -6.67 and a beta of 1.23.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The firm had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same quarter last year, the firm earned ($1.71) EPS. The firm's revenue for the quarter was down 7.5% on a year-over-year basis. On average, analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on IAC shares. Benchmark dropped their target price on shares of IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. KeyCorp cut their price objective on shares of IAC from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. Cowen reaffirmed a "buy" rating on shares of IAC in a research report on Monday, May 5th. Truist Financial decreased their price objective on IAC from $61.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Barclays dropped their target price on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.92.

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.