516,479 Shares in IAC Inc. (NASDAQ:IAC) Purchased by First Trust Advisors LP

First Trust Advisors LP acquired a new stake in IAC Inc. (NASDAQ:IACFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 516,479 shares of the company’s stock, valued at approximately $27,053,000. First Trust Advisors LP owned 0.65% of IAC as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Selected Advisers boosted its holdings in shares of IAC by 16.9% during the 3rd quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock worth $149,201,000 after buying an additional 428,065 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of IAC by 7.9% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,549,025 shares of the company’s stock worth $81,138,000 after acquiring an additional 112,778 shares during the period. FMR LLC grew its position in shares of IAC by 6.8% in the third quarter. FMR LLC now owns 1,470,853 shares of the company’s stock valued at $74,116,000 after purchasing an additional 93,467 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of IAC by 25.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,299,646 shares of the company’s stock worth $68,075,000 after purchasing an additional 265,235 shares during the period. Finally, Newtyn Management LLC lifted its holdings in IAC by 3.3% during the 3rd quarter. Newtyn Management LLC now owns 930,000 shares of the company’s stock worth $46,863,000 after purchasing an additional 30,000 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IAC has been the topic of several recent research reports. UBS Group increased their price objective on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. StockNews.com cut shares of IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Truist Financial lifted their price objective on shares of IAC from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Wells Fargo & Company lifted their price objective on shares of IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Finally, Oppenheimer lifted their price objective on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, IAC has an average rating of “Moderate Buy” and an average target price of $79.92.

Check Out Our Latest Research Report on IAC

IAC Price Performance

Shares of NASDAQ:IAC opened at $49.47 on Tuesday. The firm has a 50 day moving average of $51.09 and a 200-day moving average of $51.67. The stock has a market capitalization of $3.97 billion, a PE ratio of -31.31 and a beta of 1.34. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IACGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.21. The company had revenue of $929.68 million for the quarter, compared to analyst estimates of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. On average, equities research analysts predict that IAC Inc. will post 0.09 EPS for the current fiscal year.

About IAC

(Free Report)

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.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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