Wealth Enhancement Advisory Services LLC purchased a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,097 shares of the company's stock, valued at approximately $1,107,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of IAC by 0.6% during 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 in the last quarter. Southeastern Asset Management Inc. TN grew its holdings in IAC by 21.3% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock worth $118,719,000 after buying an additional 483,613 shares in the last quarter. Corvex Management LP raised its position in IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after buying an additional 920,875 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in IAC by 5.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after acquiring an additional 84,121 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock worth $68,306,000 after acquiring an additional 130,604 shares during the last quarter. Institutional investors own 88.90% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on IAC shares. Cowen reiterated a "buy" rating on shares of IAC in a report on Monday, May 5th. UBS Group decreased their price objective on shares of IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group dropped their target price on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays decreased their price target on shares of IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Citigroup lowered their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, IAC has a consensus rating of "Moderate Buy" and a consensus target price of $54.08.
Read Our Latest Stock Report on IAC
IAC Price Performance
IAC traded down $0.16 during trading on Thursday, reaching $39.22. 125,427 shares of the company were exchanged, compared to its average volume of 832,133. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40. The company's 50-day moving average is $36.70 and its two-hundred day moving average is $40.34. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -4.06 and a beta of 1.23.
IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. The firm had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. The company's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Research analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.
IAC Company Profile
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Free Report)
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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