AM Squared Ltd Sells 1,700 Shares of IAC Inc. (NASDAQ:IAC)

AM Squared Ltd lowered its holdings in shares of IAC Inc. (NASDAQ:IAC) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,400 shares of the company’s stock after selling 1,700 shares during the quarter. AM Squared Ltd’s holdings in IAC were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of IAC. Moneta Group Investment Advisors LLC raised its stake in shares of IAC by 113,402.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company’s stock valued at $646,113,000 after acquiring an additional 14,539,274 shares during the period. JPMorgan Chase & Co. raised its stake in shares of IAC by 25.2% in the fourth quarter. JPMorgan Chase & Co. now owns 5,566,326 shares of the company’s stock valued at $247,145,000 after acquiring an additional 1,121,881 shares during the period. Norges Bank purchased a new stake in shares of IAC in the fourth quarter valued at $40,036,000. Schroder Investment Management Group purchased a new stake in shares of IAC in the fourth quarter valued at $37,580,000. Finally, Scopus Asset Management L.P. purchased a new stake in shares of IAC in the first quarter valued at $34,830,000. Institutional investors own 85.60% of the company’s stock.

IAC Stock Up 0.3 %

IAC stock opened at $52.69 on Wednesday. The company’s 50 day moving average price is $60.96 and its 200 day moving average price is $56.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 2.13. IAC Inc. has a fifty-two week low of $41.52 and a fifty-two week high of $69.85. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.23 and a beta of 1.23.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.76). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. IAC had a negative return on equity of 4.67% and a net margin of 5.56%. On average, equities research analysts anticipate that IAC Inc. will post -3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on IAC. Truist Financial reaffirmed a “buy” rating and issued a $84.00 price target on shares of IAC in a research note on Monday, August 21st. StockNews.com assumed coverage on shares of IAC in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Oppenheimer lowered their target price on shares of IAC from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, August 10th. UBS Group reduced their price target on shares of IAC from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, August 28th. Finally, Jefferies Financial Group raised their price target on shares of IAC from $70.00 to $80.00 in a research report on Thursday, May 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.93.

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.