Maven Securities LTD Reduces Holdings in IAC Inc. (NASDAQ:IAC)

Maven Securities LTD decreased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,515 shares of the company's stock after selling 8,242 shares during the period. Maven Securities LTD's holdings in IAC were worth $540,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Corvex Management LP grew its position in shares of IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after purchasing an additional 920,875 shares during the period. Norges Bank purchased a new stake in shares of IAC in the fourth quarter valued at $38,817,000. Joel Isaacson & Co. LLC grew its position in shares of IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after purchasing an additional 359,327 shares during the period. Brown Advisory Inc. increased its stake in IAC by 87.9% during the fourth quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock worth $32,967,000 after acquiring an additional 357,442 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its stake in IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after acquiring an additional 242,982 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Analysts Set New Price Targets

IAC has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler dropped their target price on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Benchmark dropped their target price on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Cowen reissued a "buy" rating on shares of IAC in a report on Monday, May 5th. Finally, UBS Group lowered their target price on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, IAC has an average rating of "Moderate Buy" and a consensus price target of $55.38.

IAC Stock Down 0.7%

Shares of NASDAQ IAC traded down $0.28 during mid-day trading on Monday, reaching $37.53. 253,374 shares of the company's stock traded hands, compared to its average volume of 783,633. The stock has a market cap of $2.78 billion, a P/E ratio of -5.76 and a beta of 1.24. The business has a 50-day simple moving average of $38.75 and a 200 day simple moving average of $42.92. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

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

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.