BlackRock Inc. Lowers Position in IAC Inc. (NASDAQ:IAC)

BlackRock Inc. decreased its holdings in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,128,277 shares of the company’s stock after selling 75,519 shares during the quarter. BlackRock Inc. owned 4.97% of IAC worth $228,623,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Wipfli Financial Advisors LLC purchased a new position in IAC in the 3rd quarter worth approximately $40,000. Toronto Dominion Bank grew its position in IAC by 103.8% in the third quarter. Toronto Dominion Bank now owns 807 shares of the company’s stock worth $45,000 after acquiring an additional 411 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in IAC by 12,044.4% in the third quarter. SRS Capital Advisors Inc. now owns 1,093 shares of the company’s stock valued at $61,000 after acquiring an additional 1,084 shares during the last quarter. Wahed Invest LLC purchased a new stake in IAC during the second quarter valued at about $63,000. Finally, Seeyond bought a new stake in IAC during the second quarter worth about $72,000. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IAC shares. Piper Sandler raised their price objective on IAC from $67.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. The Goldman Sachs Group lowered their price objective on shares of IAC from $83.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, February 15th. Barclays increased their target price on shares of IAC from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. UBS Group raised shares of IAC from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Wednesday, February 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of IAC in a research note on Friday, February 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $88.13.

IAC Stock Down 0.1 %

Shares of IAC stock opened at $48.97 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. IAC Inc. has a 12-month low of $41.52 and a 12-month high of $106.77. The company has a market cap of $4.07 billion, a P/E ratio of -3.63 and a beta of 1.13. The company’s fifty day simple moving average is $52.72 and its two-hundred day simple moving average is $52.13.

IAC (NASDAQ:IAC – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.32. IAC had a negative net margin of 22.35% and a negative return on equity of 4.52%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Research analysts anticipate that IAC Inc. will post -2.16 EPS for the current year.

IAC Profile

(Get Rating)

IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.