Hsbc Holdings PLC Takes Position in IAC Inc. (NASDAQ:IAC)

Hsbc Holdings PLC acquired a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,757 shares of the company's stock, valued at approximately $292,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of IAC by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock valued at $341,097,000 after buying an additional 43,772 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in IAC by 9.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after purchasing an additional 130,604 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of IAC by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock worth $41,728,000 after purchasing an additional 19,148 shares in the last quarter. Norges Bank bought a new stake in shares of IAC in the fourth quarter valued at approximately $38,817,000. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after buying an additional 359,327 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Trading Up 0.7 %

IAC stock opened at $37.02 on Friday. The company has a market capitalization of $2.87 billion, a PE ratio of -5.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC Inc. has a one year low of $32.05 and a one year high of $58.29. The company's 50 day moving average price is $39.33 and its two-hundred day moving average price is $43.46.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $809.18 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The firm's revenue for the quarter 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 fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IAC. Citigroup cut their price target on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial decreased their price target on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Barclays lowered their price target on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday. UBS Group decreased their target price on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Cowen reissued a "buy" rating on shares of IAC in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, IAC has an average rating of "Moderate Buy" and an average target price of $57.43.

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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