IAC Inc. $IAC Holdings Decreased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management significantly reduced its stake in IAC Inc. by 67.7%, now holding approximately 0.89% of the company worth $30.4 million.
• Several institutional investors, including Millennium Management and BNP Paribas, have adjusted their positions in IAC, with hedge funds owning 88.90% of the company's stock.
• Despite a quarterly earnings report showing a negative net margin and revenue down 7.5% year-over-year, analysts remain optimistic with a consensus rating of "Moderate Buy" and a price target average of $47.92.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 661,398 shares of the company's stock after selling 1,384,517 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.89% of IAC worth $30,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bleakley Financial Group LLC boosted its stake in shares of IAC by 1.0% in the 1st quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company's stock valued at $1,520,000 after buying an additional 324 shares during the period. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 369 shares in the last quarter. US Bancorp DE increased its position in shares of IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company's stock valued at $103,000 after purchasing an additional 401 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of IAC by 282.2% during the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after purchasing an additional 507 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IAC. Wall Street Zen upgraded shares of IAC from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer reduced their price target on shares of IAC from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Benchmark cut their target price on IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. JMP Securities dropped their price target on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research note on Tuesday, June 10th. Finally, Truist Financial dropped their price target on IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.92.

IAC Price Performance

IAC stock traded down $1.77 on Friday, reaching $36.23. 2,015,053 shares of the company's stock were exchanged, compared to its average volume of 1,190,498. The firm has a market cap of $2.69 billion, a PE ratio of -6.72 and a beta of 1.26. IAC Inc. has a twelve month low of $32.04 and a twelve month high of $55.40. The stock has a fifty day moving average of $37.30 and a 200-day moving average of $38.05. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of ($0.30) by $2.87. The firm had revenue of $586.93 million during the quarter, compared to analysts' expectations of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The business's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the business earned ($1.71) earnings per share. As a group, equities analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

IAC 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.