Steamboat Capital Partners LLC Purchases 19,475 Shares of IAC Inc. (NASDAQ:IAC)

Steamboat Capital Partners LLC boosted its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 97.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,384 shares of the company's stock after purchasing an additional 19,475 shares during the quarter. Steamboat Capital Partners LLC's holdings in IAC were worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Applied Fundamental Research LLC increased its position in IAC by 12.1% in the 4th quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company's stock valued at $17,955,000 after buying an additional 44,835 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in IAC in the fourth quarter valued at approximately $595,000. Barclays PLC increased its holdings in shares of IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company's stock valued at $3,268,000 after acquiring an additional 54,797 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock worth $9,897,000 after purchasing an additional 224,131 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of IAC by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock worth $41,728,000 after purchasing an additional 19,148 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Performance

IAC stock traded down $0.38 during mid-day trading on Friday, reaching $36.15. 206,636 shares of the company's stock were exchanged, compared to its average volume of 785,476. The firm has a market capitalization of $2.68 billion, a PE ratio of -5.54 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The business's fifty day simple moving average is $38.12 and its 200 day simple moving average is $42.67. IAC Inc. has a one year low of $32.05 and a one year high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping 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 company had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm's quarterly revenue was down 8.6% on a year-over-year basis. On average, sell-side analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on IAC shares. Citigroup decreased their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. 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. KeyCorp lowered their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group decreased their price objective on IAC from $60.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, IAC currently has a consensus rating of "Moderate Buy" and an average target price of $55.38.

IAC Company 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.