SG Americas Securities LLC Makes New Investment in IAC Inc. (NASDAQ:IAC)

SG Americas Securities LLC bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 19,429 shares of the company's stock, valued at approximately $893,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock worth $497,000 after purchasing an additional 320 shares during the period. Versant Capital Management Inc increased its position in IAC by 118.6% during the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after purchasing an additional 369 shares during the period. 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 during the period. GAMMA Investing LLC increased its position in IAC by 219.4% during the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after purchasing an additional 520 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of IAC by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company's stock worth $1,654,000 after acquiring an additional 531 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 weighed in on IAC shares. UBS Group lowered their price target on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Cowen restated a "buy" rating on shares of IAC in a report on Monday, May 5th. The Goldman Sachs Group lowered their price target on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Citigroup lowered their price target on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, 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. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.08.

IAC Price Performance

IAC stock traded up $0.33 on Friday, reaching $37.14. The company had a trading volume of 2,441,836 shares, compared to its average volume of 829,315. 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 company's fifty day moving average is $35.97 and its 200 day moving average is $40.94.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results 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 return on equity of 11.11% and a negative net margin of 23.25%. The firm had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. During the same quarter in the prior year, the company earned $0.51 EPS. IAC's revenue was down 8.6% on a year-over-year basis. As a group, equities analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.