Maven Securities LTD Has $1.12 Million Position in IAC Inc. (NASDAQ:IAC)

Maven Securities LTD lowered its stake in IAC Inc. (NASDAQ:IAC) by 18.7% in the third quarter, HoldingsChannel.com reports. The firm owned 20,757 shares of the company’s stock after selling 4,790 shares during the quarter. Maven Securities LTD’s holdings in IAC were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IAC. Comerica Bank increased its holdings in shares of IAC by 52.7% in the first quarter. Comerica Bank now owns 10,929 shares of the company’s stock valued at $583,000 after purchasing an additional 3,772 shares in the last quarter. CWM LLC boosted its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the last quarter. QRG Capital Management Inc. boosted its stake in IAC by 8.2% in the second quarter. QRG Capital Management Inc. now owns 27,239 shares of the company’s stock valued at $1,276,000 after acquiring an additional 2,073 shares during the last quarter. SG Americas Securities LLC bought a new position in IAC in the second quarter valued at approximately $312,000. Finally, Alhambra Investment Management LLC boosted its stake in IAC by 5.8% in the second quarter. Alhambra Investment Management LLC now owns 11,357 shares of the company’s stock valued at $532,000 after acquiring an additional 618 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the topic of a number of recent research reports. Truist Financial reduced their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. 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 report on Wednesday, November 13th. Macquarie reissued an “outperform” rating and set a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Finally, KeyCorp reduced their price target on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.36.

IAC Stock Performance

Shares of IAC stock opened at $47.82 on Thursday. The company has a 50 day moving average of $50.71 and a 200-day moving average of $50.21. IAC Inc. has a 1-year low of $43.51 and a 1-year high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.85 billion, a PE ratio of -111.21 and a beta of 1.31.

IAC (NASDAQ:IAC) last issued its quarterly earnings results 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 firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business’s revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted ($0.30) EPS. As a group, equities research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal 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.