Wealth Enhancement Advisory Services LLC Has $257,000 Stake in IAC Inc. $IAC

Key Points

• Wealth Enhancement Advisory Services LLC has significantly reduced its investment in IAC Inc. by 72.5%, holding 6,634 shares valued at $257,000 as of the latest SEC filing.
• Analysts have mixed views on IAC's stock, with target price adjustments from firms such as Oppenheimer and Piper Sandler, reflecting a general consensus rating of "Moderate Buy" and an average target price of $47.92.
• IAC's most recent quarterly earnings showed a negative return on equity of 8.23% and a revenue decline of 7.5% year-over-year, despite reporting earnings per share of $2.57, which exceeded expectations.

Wealth Enhancement Advisory Services LLC decreased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 72.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,634 shares of the company's stock after selling 17,463 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in IAC were worth $257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC increased its holdings in shares of IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock worth $27,000 after acquiring an additional 429 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after acquiring an additional 507 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in IAC during the 2nd quarter worth approximately $51,000. Finally, US Bancorp DE lifted its stake in IAC by 21.9% in the first quarter. US Bancorp DE now owns 2,234 shares of the company's stock valued at $103,000 after buying an additional 401 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Price Performance

Shares of IAC stock opened at $33.41 on Friday. IAC Inc. has a twelve month low of $32.04 and a twelve month high of $55.16. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $35.60 and a two-hundred day simple moving average of $36.94. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -6.20 and a beta of 1.23.

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

Wall Street Analysts Forecast Growth

IAC has been the subject of a number of research analyst reports. Oppenheimer reduced their target price on shares of IAC from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of IAC in a report on Wednesday. Piper Sandler decreased their price objective on IAC from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. UBS Group increased their price objective on IAC from $38.00 to $41.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Truist Financial lowered their price objective on shares of IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, IAC has an average rating of "Moderate Buy" and a consensus target price of $47.92.

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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