Grandfield & Dodd LLC Has $513,000 Stake in IAC Inc. (NASDAQ:IAC)

Grandfield & Dodd LLC cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 48.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,541 shares of the company’s stock after selling 8,952 shares during the quarter. Grandfield & Dodd LLC’s holdings in IAC were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Tandem Capital Management Corp ADV lifted its holdings in IAC by 0.6% in the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock valued at $2,192,000 after buying an additional 260 shares during the period. Greenwich Wealth Management LLC boosted its position in shares of IAC by 3.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in IAC by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after purchasing an additional 405 shares in the last quarter. CWM LLC boosted its holdings in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after buying an additional 490 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IAC shares. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. TD Cowen cut their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. KeyCorp dropped their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Macquarie restated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Stock Performance

IAC stock opened at $47.65 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.83 billion, a PE ratio of -110.81 and a beta of 1.33. The business has a 50 day moving average of $51.87 and a 200-day moving average of $50.81. IAC Inc. has a 12-month low of $43.51 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter last year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that IAC Inc. will post -3.97 earnings per share for the current year.

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.