IAC Inc. $IAC Stake Lowered by Invesco Ltd.

Invesco Ltd. trimmed its stake in shares of IAC Inc. (NASDAQ:IAC) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 324,621 shares of the company’s stock after selling 16,886 shares during the quarter. Invesco Ltd. owned about 0.44% of IAC worth $14,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its stake in IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after buying an additional 429 shares during the last quarter. Parallel Advisors LLC lifted its stake in IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock valued at $29,000 after buying an additional 583 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock valued at $29,000 after acquiring an additional 507 shares during the period. Versant Capital Management Inc boosted its holdings in shares of IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock valued at $31,000 after acquiring an additional 369 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after acquiring an additional 520 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $36.43 on Friday. The business has a 50 day moving average price of $37.97 and a two-hundred day moving average price of $39.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -6.76 and a beta of 1.23. IAC Inc. has a 1-year low of $32.04 and a 1-year high of $55.40.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, August 4th. The company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $2.87. The company had revenue of $586.93 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.71) EPS. Research analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IAC. The Goldman Sachs Group cut their price objective on shares of IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Truist Financial cut their price target on IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Piper Sandler decreased their price objective on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Oppenheimer lowered their target price on IAC from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Benchmark reduced their price target on IAC from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.92.

About IAC

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.