First Manhattan CO. LLC. decreased its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,822 shares of the company's stock after selling 32,258 shares during the quarter. First Manhattan CO. LLC. owned about 0.49% of IAC worth $16,860,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd raised its position in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after buying an additional 457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC in the fourth quarter worth $41,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of IAC during the fourth quarter worth $135,000. Finally, KBC Group NV lifted its position in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after purchasing an additional 608 shares during the period. Hedge funds and other institutional investors own 88.90% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Benchmark lowered their price target on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Citigroup lowered their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group reduced their price target on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price objective on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, KeyCorp cut their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.43.
View Our Latest Report on IAC
IAC Price Performance
NASDAQ IAC traded down $0.57 on Tuesday, hitting $38.77. The company had a trading volume of 1,364,345 shares, compared to its average volume of 781,484. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company's fifty day moving average price is $39.21 and its 200-day moving average price is $43.26. The company has a market capitalization of $2.87 billion, a PE ratio of -5.95 and a beta of 1.24. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $58.29.
IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. The company's quarterly revenue was down 8.6% on a year-over-year basis. As a group, analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.
About IAC
(
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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