GAMMA Investing LLC Purchases 520 Shares of IAC Inc. (NASDAQ:IAC)

GAMMA Investing LLC grew its position in IAC Inc. (NASDAQ:IAC) by 219.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757 shares of the company’s stock after purchasing an additional 520 shares during the quarter. GAMMA Investing LLC’s holdings in IAC were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of IAC by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock worth $497,000 after purchasing an additional 320 shares during the period. Versant Capital Management Inc boosted its position in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after purchasing an additional 369 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after buying an additional 457 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock worth $29,000 after buying an additional 583 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of IAC by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 32,624 shares of the company’s stock worth $1,407,000 after buying an additional 713 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group lowered their target price on shares of IAC from $54.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Citigroup lowered 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 lowered 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. JPMorgan Chase & Co. lowered their target price on shares of IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler lowered their target price on shares of IAC from $54.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.08.

IAC Price Performance

IAC stock opened at $41.67 on Friday. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $55.40. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -4.31 and a beta of 1.23. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $37.19 and its 200 day moving average is $40.20.

IAC (NASDAQ:IAC) last announced 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 23.25% and a negative return on equity of 11.11%. The business had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Sell-side analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

IAC Company 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.