Worth Venture Partners LLC Makes New Investment in IAC Inc. $IAC

Key Points

• Worth Venture Partners LLC invested approximately $3.04 million in IAC Inc., acquiring 66,250 shares, which now represent about 5.8% of its portfolio.
• Various institutional investors, including TD Private Client Wealth LLC and Parallel Advisors LLC, dramatically increased their holdings in IAC during the first quarter, with some boosting their positions by over 1,400%.
• IAC's recent quarterly earnings exceeded expectations with an EPS of $2.57, yet the company's revenue declined year-over-year by 7.5%.

Worth Venture Partners LLC acquired a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 66,250 shares of the company's stock, valued at approximately $3,044,000. IAC accounts for approximately 5.8% of Worth Venture Partners LLC's holdings, making the stock its 8th largest position. Worth Venture Partners LLC owned approximately 0.09% of IAC as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IAC. LPL Financial LLC boosted its stake in IAC by 17.1% during the fourth quarter. LPL Financial LLC now owns 5,016 shares of the company's stock valued at $216,000 after buying an additional 733 shares during the period. Guggenheim Capital LLC bought a new stake in IAC during the fourth quarter worth about $211,000. Hsbc Holdings PLC bought a new stake in IAC during the fourth quarter worth about $292,000. Boothbay Fund Management LLC bought a new stake in IAC during the fourth quarter worth about $915,000. Finally, Oxford Asset Management LLP bought a new stake in IAC during the fourth quarter worth about $268,000. Institutional investors own 88.90% of the company's stock.

IAC Trading Down 0.2%

NASDAQ:IAC traded down $0.09 during mid-day trading on Friday, reaching $36.62. 775,069 shares of the company's stock traded hands, compared to its average volume of 1,663,687. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.40. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -6.79 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The company has a 50 day moving average price of $37.88 and a 200-day moving average price of $39.01.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IAC shares. Barclays dropped their price target on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group dropped their price target on IAC from $60.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Cowen reissued a "buy" rating on shares of IAC in a research note on Monday, May 5th. UBS Group boosted their target price on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Truist Financial lowered their target price on IAC from $61.00 to $57.00 and set a "buy" rating for the company 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 company presently has an average rating of "Moderate Buy" and an average 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.