Southeastern Asset Management Inc. TN Has $118.72 Million Holdings in IAC Inc. (NASDAQ:IAC)

Southeastern Asset Management Inc. TN increased its position in IAC Inc. (NASDAQ:IAC - Free Report) by 21.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,751,940 shares of the company's stock after buying an additional 483,613 shares during the period. IAC comprises approximately 5.6% of Southeastern Asset Management Inc. TN's holdings, making the stock its 5th largest position. Southeastern Asset Management Inc. TN owned 3.42% of IAC worth $118,719,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in IAC by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after purchasing an additional 43,772 shares in the last quarter. Corvex Management LP raised its position in shares of IAC by 61.8% during 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 in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of IAC by 5.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after buying an additional 84,121 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after buying an additional 130,604 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of IAC by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock valued at $41,728,000 after buying an additional 19,148 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IAC shares. Benchmark cut their price target on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Cowen reiterated a "buy" rating on shares of IAC in a report on Monday, May 5th. Truist Financial dropped their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Oppenheimer dropped their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler dropped their target price on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.38.

IAC Trading Down 2.6%

NASDAQ IAC opened at $37.89 on Friday. The company has a fifty day simple moving average of $38.87 and a two-hundred day simple moving average of $43.10. The stock has a market cap of $2.81 billion, a P/E ratio of -5.81 and a beta of 1.24. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $57.60. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (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 analysts' expectations of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business's quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. On average, analysts forecast 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.

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