Grandfield & Dodd LLC Trims Stake in IAC Inc. (NASDAQ:IAC)

Grandfield & Dodd LLC cut its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 31.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,114 shares of the company's stock after selling 30,173 shares during the period. Grandfield & Dodd LLC owned approximately 0.08% of IAC worth $3,463,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IAC by 15.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,678 shares of the company's stock valued at $874,000 after purchasing an additional 2,262 shares during the period. WCM Investment Management LLC increased its stake in shares of IAC by 9.5% in the fourth quarter. WCM Investment Management LLC now owns 295,871 shares of the company's stock worth $15,758,000 after buying an additional 25,704 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in IAC by 33.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 5,644 shares of the company's stock worth $296,000 after purchasing an additional 1,427 shares during the period. International Assets Investment Management LLC acquired a new position in IAC in the fourth quarter worth $2,579,000. Finally, Investment Partners Asset Management Inc. acquired a new position in IAC in the fourth quarter worth $357,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

IAC stock traded up $0.41 during mid-day trading on Friday, hitting $48.00. 386,922 shares of the company were exchanged, compared to its average volume of 514,449. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $52.68 and a 200 day moving average of $50.25. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $69.85. The company has a market capitalization of $3.84 billion, a PE ratio of 19.35 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts expect that IAC Inc. will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IAC has been the subject of several research analyst reports. KeyCorp upped their price objective on shares of IAC from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. UBS Group boosted their price target on IAC from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Truist Financial boosted their price target on IAC from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Finally, Barclays boosted their price target on IAC from $62.00 to $72.00 and gave the company an "overweight" rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.69.

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.