RPD Fund Management LLC Takes $10.13 Million Position in IAC Inc. (NASDAQ:IAC)

RPD Fund Management LLC acquired a new position in IAC Inc. (NASDAQ:IAC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 234,799 shares of the company's stock, valued at approximately $10,129,000. IAC comprises 4.1% of RPD Fund Management LLC's investment portfolio, making the stock its 8th biggest holding. RPD Fund Management LLC owned about 0.29% of IAC as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IAC. Corvex Management LP lifted its holdings in shares of IAC by 61.8% in the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after buying an additional 920,875 shares during the period. Norges Bank purchased a new position in IAC during the fourth quarter valued at approximately $38,817,000. Joel Isaacson & Co. LLC lifted its holdings in 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 acquiring an additional 359,327 shares during the period. Brown Advisory Inc. boosted its position in IAC by 87.9% in the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company's stock worth $32,967,000 after purchasing an additional 357,442 shares in the last quarter. Finally, Highbridge Capital Management LLC grew its stake in shares of IAC by 223.5% during the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after purchasing an additional 242,982 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Price Performance

Shares of IAC stock traded down $0.30 during trading hours on Monday, reaching $37.50. 978,129 shares of the company's stock were exchanged, compared to its average volume of 786,388. The business has a fifty day moving average of $38.75 and a two-hundred day moving average of $42.92. The company has a market capitalization of $2.78 billion, a P/E ratio of -5.75 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.49.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. IAC's revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. As a group, research analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IAC has been the subject of several analyst reports. Piper Sandler decreased their target price on shares of IAC from $54.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. KeyCorp lowered their target price on shares of IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. The Goldman Sachs Group lowered their target price on shares of IAC from $60.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer reduced their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, Citigroup reduced 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, IAC presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.38.

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.