Twinbeech Capital LP Cuts Holdings in IAC Inc. (NASDAQ:IAC)

Twinbeech Capital LP lowered its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,215 shares of the company's stock after selling 19,241 shares during the quarter. Twinbeech Capital LP owned 0.11% of IAC worth $3,806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd grew its stake in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after buying an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC in the fourth quarter valued at $41,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of IAC in the fourth quarter valued at $135,000. Finally, Allworth Financial LP grew its stake in shares of IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after buying an additional 3,079 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Down 0.6%

Shares of NASDAQ:IAC traded down $0.22 on Friday, hitting $36.31. 889,421 shares of the company's stock were exchanged, compared to its average volume of 789,083. The firm's 50-day moving average is $37.91 and its 200 day moving average is $42.57. The company has a market capitalization of $2.69 billion, a PE ratio of -5.57 and a beta of 1.24. 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 0.31, 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) EPS for the quarter, beating the consensus estimate 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 7.98% and a negative net margin of 14.18%. The firm's revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. Sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on IAC. Piper Sandler lowered their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Cowen reissued a "buy" rating on shares of IAC in a research note on Monday, May 5th. UBS Group lowered their target price on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Benchmark lowered their target price on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.38.

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.