Vanguard Group Inc. Sells 359,230 Shares of IAC Inc. $IAC

Key Points

• Vanguard Group reduced its IAC stake by 4.9% in the fourth quarter, selling 359,230 shares and leaving it with 6.92 million shares valued at about $270.6 million.
• IAC stock rose 2.2% to $44.06, near its 52-week high of $45.82, while the company’s balance sheet showed solid liquidity with a quick ratio of 2.75 and current ratio of 3.69.
• IAC reported a quarterly loss of ($0.99) per share, missing analyst estimates, even though revenue of $645.98 million came in slightly above expectations; analysts currently have a Moderate Buy consensus with a $53.14 price target.

Vanguard Group Inc. lowered its position in IAC Inc. (NASDAQ:IAC - Free Report) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,921,604 shares of the company's stock after selling 359,230 shares during the period. Vanguard Group Inc. owned about 9.66% of IAC worth $270,635,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Elevation Wealth Partners LLC bought a new position in IAC in the 4th quarter worth $25,000. Advisory Services Network LLC bought a new position in IAC in the 3rd quarter worth $38,000. JFS Wealth Advisors LLC bought a new position in IAC in the 3rd quarter worth $39,000. Geneos Wealth Management Inc. boosted its holdings in IAC by 96.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company's stock worth $114,000 after buying an additional 1,500 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in IAC in the 3rd quarter worth $113,000. Institutional investors own 88.90% of the company's stock.

IAC Stock Up 2.2%

Shares of IAC stock opened at $44.06 on Friday. The stock has a market cap of $3.02 billion, a P/E ratio of 119.08 and a beta of 1.03. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $45.82. The company has a quick ratio of 2.75, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. The company's fifty day simple moving average is $40.37 and its two-hundred day simple moving average is $37.82.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). The company had revenue of $645.98 million during the quarter, compared to analysts' expectations of $641.01 million. IAC had a return on equity of 2.29% and a net margin of 1.82%.The firm's revenue for the quarter was down 34.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.39) EPS. Analysts predict that IAC Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IAC shares. TD Cowen upped their target price on shares of IAC from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Monday. Barclays boosted their price target on shares of IAC from $48.00 to $55.00 and gave the stock an "overweight" rating in a research note on Wednesday. Benchmark boosted their price target on shares of IAC from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group boosted their price target on shares of IAC from $48.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, KeyCorp boosted their price target on shares of IAC from $41.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.14.

IAC Company Profile

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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