44,452 Shares in IAC Inc. (NASDAQ:IAC) Acquired by Cerity Partners LLC

Cerity Partners LLC purchased a new position in shares of IAC Inc. (NASDAQ:IAC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,452 shares of the company’s stock, valued at approximately $2,042,000. Cerity Partners LLC owned about 0.06% of IAC as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Value Investors Ltd acquired a new stake in shares of IAC in the fourth quarter worth $39,872,000. Corvex Management LP increased its position in shares of IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock worth $103,983,000 after acquiring an additional 920,875 shares in the last quarter. Norges Bank acquired a new stake in IAC during the 4th quarter valued at $38,817,000. Southeastern Asset Management Inc. TN grew its holdings in IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock valued at $118,719,000 after purchasing an additional 483,613 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in IAC by 87.9% during the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company’s stock valued at $32,967,000 after purchasing an additional 357,442 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IAC. JPMorgan Chase & Co. lowered their price target on shares of IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. JMP Securities reduced their price objective on shares of IAC from $64.00 to $47.00 and set a “market outperform” rating on the stock in a research note on Tuesday, June 10th. Barclays reduced their price objective on shares of IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Piper Sandler reduced their price objective on shares of IAC from $54.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.08.

IAC Stock Down 0.5%

IAC stock opened at $40.76 on Monday. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40. The firm’s 50-day simple moving average is $37.79 and its 200 day simple moving average is $40.07. The stock has a market cap of $3.02 billion, a PE ratio of -4.22 and a beta of 1.23.

IAC (NASDAQ:IAC) last released its earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. The firm had revenue of $570.49 million for the quarter, compared to analysts’ expectations of $809.18 million. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. IAC’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. As a group, sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current 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.