Ameriprise Financial Inc. Has $7.15 Million Stock Holdings in IAC Inc. (NASDAQ:IAC)

Ameriprise Financial Inc. trimmed its position in IAC Inc. (NASDAQ:IAC) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,753 shares of the company’s stock after selling 19,898 shares during the period. Ameriprise Financial Inc. owned approximately 0.21% of IAC worth $7,151,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IAC. Barclays PLC raised its holdings in IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after buying an additional 54,797 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in IAC by 1,398.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after buying an additional 1,916 shares during the period. KBC Group NV raised its holdings in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after buying an additional 608 shares during the period. DAVENPORT & Co LLC raised its holdings in IAC by 5.1% during the 4th quarter. DAVENPORT & Co LLC now owns 43,545 shares of the company’s stock worth $1,879,000 after buying an additional 2,118 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in 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 buying an additional 359,327 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Price Performance

NASDAQ:IAC opened at $36.53 on Friday. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.40. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $38.12 and a 200 day simple moving average of $42.67. The stock has a market capitalization of $2.71 billion, a PE ratio of -5.60 and a beta of 1.24.

IAC (NASDAQ:IAC) last released its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million during the quarter, compared to analysts’ expectations of $809.18 million. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. On average, research analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on IAC shares. Citigroup dropped their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 25th. KeyCorp dropped their target price on shares of IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Oppenheimer dropped their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Benchmark dropped their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Cowen reaffirmed a “buy” rating on shares of IAC in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average price target of $55.38.

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.