Price T Rowe Associates Inc. MD Sells 19,691 Shares of IAC Inc. (NASDAQ:IAC)

Price T Rowe Associates Inc. MD reduced its position in IAC Inc. (NASDAQ:IAC - Free Report) by 29.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,428 shares of the company's stock after selling 19,691 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of IAC worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IAC. Hsbc Holdings PLC bought a new stake in IAC in the fourth quarter worth $292,000. Guggenheim Capital LLC purchased a new stake in IAC during the 4th quarter valued at about $211,000. Raymond James Financial Inc. bought a new position in IAC during the 4th quarter worth approximately $8,015,000. Renaissance Technologies LLC increased its stake in IAC by 82.2% in the 4th quarter. Renaissance Technologies LLC now owns 98,627 shares of the company's stock worth $4,255,000 after purchasing an additional 44,500 shares during the period. Finally, Invesco Ltd. lifted its position in IAC by 24.7% in the fourth quarter. Invesco Ltd. now owns 341,507 shares of the company's stock valued at $14,733,000 after purchasing an additional 67,746 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Price Performance

Shares of NASDAQ:IAC opened at $35.32 on Thursday. The business has a 50-day simple moving average of $39.65 and a two-hundred day simple moving average of $43.68. 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 firm has a market cap of $2.74 billion, a price-to-earnings ratio of -5.42 and a beta of 1.24. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

IAC (NASDAQ:IAC - Get Free Report) last posted 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. The business had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm's revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Analysts Set New Price Targets

IAC has been the topic of several recent analyst reports. Truist Financial cut their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Citigroup lowered their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group reduced their price target on IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday. Barclays dropped their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Piper Sandler decreased their target price on IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, IAC has a consensus rating of "Moderate Buy" and an average price target of $57.43.

IAC 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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