Northern Trust Corp Has $20.17 Million Stock Holdings in IAC Inc. (NASDAQ:IAC)

Northern Trust Corp lifted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 467,587 shares of the company's stock after acquiring an additional 29,627 shares during the quarter. Northern Trust Corp owned 0.58% of IAC worth $20,172,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. III Capital Management acquired a new stake in shares of IAC in the fourth quarter worth $4,314,000. Tudor Investment Corp ET AL acquired a new stake in shares of IAC in the fourth quarter worth $4,537,000. Aquatic Capital Management LLC acquired a new stake in shares of IAC in the fourth quarter worth $135,000. Oxford Asset Management LLP acquired a new stake in shares of IAC in the fourth quarter worth $268,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of IAC in the fourth quarter worth $915,000. 88.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IAC. KeyCorp decreased their target price on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Cowen reissued a "buy" rating on shares of IAC in a research report on Monday, May 5th. Truist Financial reduced their price objective on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. UBS Group reduced their price objective on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays reduced their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Stock Performance

Shares of IAC stock traded down $0.09 during trading on Friday, reaching $37.80. The company's stock had a trading volume of 1,049,587 shares, compared to its average volume of 786,534. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The business's fifty day moving average price is $38.75 and its 200-day moving average price is $43.01. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -5.80 and a beta of 1.24. IAC Inc. has a one year low of $32.05 and a one year high of $57.16.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($2.80) EPS for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. The business had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

About IAC

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.