Marco Investment Management LLC Sells 1,350 Shares of IAC Inc. (NASDAQ:IAC)

Marco Investment Management LLC lowered its stake in shares of IAC Inc. (NASDAQ:IAC) by 7.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,104 shares of the company’s stock after selling 1,350 shares during the quarter. Marco Investment Management LLC’s holdings in IAC were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IAC. International Assets Investment Management LLC bought a new position in IAC in the second quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares during the last quarter. CWM LLC grew its holdings in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of IAC during the second quarter worth about $60,000. Finally, Innealta Capital LLC bought a new position in IAC in the 2nd quarter valued at about $146,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IAC shares. Barclays lowered their price target on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. TD Cowen reduced their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Macquarie reissued an “outperform” rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Finally, KeyCorp cut their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.36.

IAC Stock Performance

NASDAQ:IAC opened at $48.47 on Friday. The company has a market capitalization of $3.90 billion, a P/E ratio of -112.72 and a beta of 1.33. The business has a fifty day simple moving average of $51.67 and a two-hundred day simple moving average of $50.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29.

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

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.