Ursa Fund Management LLC Purchases New Stake in IAC Inc. (NASDAQ:IAC)

Ursa Fund Management LLC bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the company's stock, valued at approximately $647,000. IAC makes up 0.0% of Ursa Fund Management LLC's investment portfolio, making the stock its 4th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of IAC by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after acquiring an additional 43,772 shares during the last quarter. Southeastern Asset Management Inc. TN increased its stake in IAC by 21.3% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock valued at $118,719,000 after purchasing an additional 483,613 shares during the last quarter. Corvex Management LP increased its stake in IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after purchasing an additional 920,875 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in IAC by 5.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after purchasing an additional 84,121 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in IAC by 9.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after purchasing an additional 130,604 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Trading Down 0.8%

Shares of IAC stock opened at $37.50 on Tuesday. The firm has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $42.84. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.78 billion, a PE ratio of -5.75 and a beta of 1.24. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.49.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million for the quarter, compared to analysts' expectations of $809.18 million. During the same period last year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. As a group, analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped 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. 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. Truist Financial lowered their target price on IAC from $80.00 to $76.00 and set a "buy" 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. Finally, JPMorgan Chase & Co. lowered their target price on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.38.

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.

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