Tudor Investment Corp ET AL Invests $6.05 Million in IAC Inc. $IAC

Key Points

• Tudor Investment Corp ET AL opened a new position in IAC by buying 177,567 shares worth about $6.05 million, equal to roughly 0.25% of the company.
• IAC reported quarterly EPS of -$0.99 (missing estimates of $0.67) with revenue of $645.98M (slightly above estimates) but revenue was down 34.7% year‑over‑year and the company showed a negative net margin and negative ROE.
• About 88.9% of IAC is held by institutions, several funds increased their stakes this quarter, and analysts maintain a consensus "Moderate Buy" with an average price target of $47.62.

Tudor Investment Corp ET AL acquired a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 177,567 shares of the company's stock, valued at approximately $6,050,000. Tudor Investment Corp ET AL owned 0.25% of IAC at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Patient Capital Management LLC raised its holdings in shares of IAC by 21.2% during the third quarter. Patient Capital Management LLC now owns 2,108,245 shares of the company's stock worth $71,828,000 after purchasing an additional 369,239 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of IAC by 43.8% during the third quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company's stock worth $39,122,000 after purchasing an additional 349,969 shares during the last quarter. Newtyn Management LLC raised its holdings in shares of IAC by 10.0% during the third quarter. Newtyn Management LLC now owns 1,100,000 shares of the company's stock worth $37,477,000 after purchasing an additional 100,000 shares during the last quarter. Arkhouse Management Co. LP raised its holdings in shares of IAC by 0.3% during the third quarter. Arkhouse Management Co. LP now owns 800,061 shares of the company's stock worth $27,258,000 after purchasing an additional 2,391 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of IAC by 23.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 629,968 shares of the company's stock worth $21,532,000 after purchasing an additional 118,865 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Up 0.5%

IAC opened at $40.26 on Wednesday. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $41.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The company has a fifty day moving average of $37.52 and a two-hundred day moving average of $36.51. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -30.27 and a beta of 1.06.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The firm had revenue of $645.98 million during the quarter, compared to analysts' expectations of $641.01 million. During the same period in the previous year, the firm posted ($2.39) EPS. The firm's quarterly revenue was down 34.7% on a year-over-year basis. On average, research analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAC. Zacks Research raised shares of IAC from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 11th. Needham & Company LLC set a $57.00 target price on shares of IAC in a report on Tuesday, March 3rd. Jefferies Financial Group raised their target price on shares of IAC from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, December 11th. Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of IAC from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, December 12th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.62.

About IAC

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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