Bleakley Financial Group LLC Decreases Stock Position in IAC Inc. (NASDAQ:IAC)

Bleakley Financial Group LLC trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,773 shares of the company’s stock after selling 309 shares during the quarter. Bleakley Financial Group LLC’s holdings in IAC were worth $1,414,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the period. Quarry LP boosted its position in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares during the last quarter. KBC Group NV raised its holdings in shares of IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after buying an additional 608 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of IAC during the 3rd quarter worth approximately $208,000. Institutional investors own 88.90% of the company’s stock.

IAC Stock Down 1.7 %

Shares of NASDAQ IAC opened at $41.60 on Friday. IAC Inc. has a 12-month low of $39.61 and a 12-month high of $58.29. The stock’s fifty day simple moving average is $43.59 and its two-hundred day simple moving average is $48.51. The stock has a market capitalization of $3.35 billion, a PE ratio of -96.74 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on IAC. Truist Financial cut their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays reduced their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $70.00 price objective on shares of IAC in a research report on Monday, December 16th. Citigroup raised their target price on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, KeyCorp lowered their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.67.

IAC Company 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.