US Bancorp DE Has $103,000 Stock Position in IAC Inc. $IAC

US Bancorp DE lifted its stake in IAC Inc. (NASDAQ:IAC) by 21.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,234 shares of the company’s stock after acquiring an additional 401 shares during the period. US Bancorp DE’s holdings in IAC were worth $103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC boosted its stake in IAC by 17.1% during the fourth quarter. LPL Financial LLC now owns 5,016 shares of the company’s stock worth $216,000 after buying an additional 733 shares in the last quarter. Bank of Montreal Can acquired a new stake in IAC during the fourth quarter worth $395,000. Invesco Ltd. boosted its stake in IAC by 24.7% during the fourth quarter. Invesco Ltd. now owns 341,507 shares of the company’s stock worth $14,733,000 after buying an additional 67,746 shares in the last quarter. Renaissance Technologies LLC boosted its stake in IAC by 82.2% during the fourth quarter. Renaissance Technologies LLC now owns 98,627 shares of the company’s stock worth $4,255,000 after buying an additional 44,500 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in IAC during the fourth quarter worth $8,015,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Performance

IAC stock opened at $35.46 on Monday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -6.58 and a beta of 1.23. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.40. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a 50-day simple moving average of $38.07 and a 200 day simple moving average of $39.42.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. The company had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.71) EPS. On average, research analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IAC. Benchmark cut their price objective on IAC from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group lifted their price objective on IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. KeyCorp cut their price objective on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. cut their price objective on IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup cut their price objective on IAC from $47.55 to $45.00 and set a “buy” rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

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.