Tabor Asset Management LP Makes New $5.91 Million Investment in IAC Inc. (NASDAQ:IAC)

Tabor Asset Management LP bought a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 128,734 shares of the company's stock, valued at approximately $5,914,000. IAC accounts for 1.5% of Tabor Asset Management LP's portfolio, making the stock its 14th largest holding. Tabor Asset Management LP owned approximately 0.17% of IAC as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in IAC by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company's stock valued at $497,000 after buying an additional 320 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of IAC by 1.0% in the first quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company's stock valued at $1,520,000 after purchasing an additional 324 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after purchasing an additional 369 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after purchasing an additional 429 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after buying an additional 457 shares during the period. Institutional investors own 88.90% of the company's stock.

Analysts Set New Price Targets

IAC has been the subject of several recent research reports. JMP Securities decreased their price objective on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday, June 10th. Citigroup dropped their price target on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Cowen restated a "buy" rating on shares of IAC in a research report on Monday, May 5th. KeyCorp lowered their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Barclays lowered their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Two research 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.08.

IAC Price Performance

Shares of NASDAQ:IAC traded up $0.04 on Thursday, hitting $41.18. The company had a trading volume of 632,192 shares, compared to its average volume of 1,032,600. The company has a market cap of $3.05 billion, a PE ratio of -4.26 and a beta of 1.23. The business has a 50 day moving average of $37.91 and a 200 day moving average of $40.07. IAC Inc. has a 52-week low of $32.04 and a 52-week high of $55.40. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating analysts' consensus estimates of ($3.94) by $1.14. The firm had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. IAC's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

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.