IAC Inc. (NASDAQ:IAC) Shares Bought by Steamboat Capital Partners LLC

Steamboat Capital Partners LLC increased its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 97.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,384 shares of the company's stock after acquiring 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corvex Management LP boosted its stake in IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock worth $103,983,000 after purchasing an additional 920,875 shares during the period. Norges Bank purchased a new position in shares of IAC during the fourth quarter worth about $38,817,000. Southeastern Asset Management Inc. TN grew its holdings in shares of IAC by 21.3% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after buying an additional 483,613 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after acquiring an additional 359,327 shares during the period. Finally, Brown Advisory Inc. raised its stake in IAC by 87.9% during the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock valued at $32,967,000 after acquiring an additional 357,442 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Price Performance

IAC stock traded down $0.46 during midday trading on Tuesday, reaching $37.04. 766,650 shares of the company were exchanged, compared to its average volume of 785,017. The firm's 50-day simple moving average is $38.50 and its 200-day simple moving average is $42.80. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.68 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 posted its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.14. The business had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The business's revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. On average, analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer cut their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Cowen reiterated a "buy" rating on shares of IAC in a research note on Monday, May 5th. JMP Securities reduced their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. UBS Group cut their price objective on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.