Worth Venture Partners LLC Takes $3.04 Million Position 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 purchased a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 66,250 shares of the company's stock, valued at approximately $3,044,000. IAC comprises about 5.8% of Worth Venture Partners LLC's holdings, making the stock its 8th largest holding. Worth Venture Partners LLC owned 0.09% of IAC at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IAC. TD Private Client Wealth LLC lifted its position in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company's stock valued at $27,000 after buying an additional 429 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of IAC by 1,422.0% during the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of IAC by 426.1% during the 1st quarter. Fifth Third Bancorp now owns 626 shares of the company's stock valued at $29,000 after buying an additional 507 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of IAC by 118.6% during the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock valued at $31,000 after buying an additional 369 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in IAC by 219.4% during the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Price Performance

Shares of IAC stock opened at $36.43 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.71 billion, a PE ratio of -6.76 and a beta of 1.23. The business's 50-day moving average price is $37.97 and its 200-day moving average price is $39.18. IAC Inc. has a 12 month low of $32.04 and a 12 month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of ($0.30) by $2.87. The firm had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company's revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned ($1.71) EPS. Sell-side analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on IAC shares. Truist Financial dropped their price objective on IAC from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen raised IAC from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays decreased their target price on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler decreased their target price on IAC from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group decreased their target price on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, IAC presently has an average rating of "Moderate Buy" and a consensus price target of $47.92.

IAC Company 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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