Investment Partners Asset Management Inc. Sells 614 Shares of IAC Inc. (NASDAQ:IAC)

Investment Partners Asset Management Inc. trimmed its holdings in IAC Inc. (NASDAQ:IAC) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 9,750 shares of the company’s stock after selling 614 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in IAC were worth $421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after acquiring an additional 66,347 shares during the period. State Street Corp increased its stake in IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after purchasing an additional 28,577 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of IAC by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after purchasing an additional 52,271 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its position in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after purchasing an additional 359,327 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

IAC has been the subject of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Citigroup boosted their price objective on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays lowered their target price on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial reduced their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.25.

IAC Trading Up 5.8 %

Shares of IAC stock opened at $43.39 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -100.90 and a beta of 1.32. IAC Inc. has a 52-week low of $39.61 and a 52-week high of $58.29. The company has a 50-day simple moving average of $43.10 and a two-hundred day simple moving average of $48.21.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million during 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%. The business’s revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) earnings per share. Research analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal 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.