170,271 Shares in IAC Inc. $IAC Acquired by Nuveen LLC

Nuveen LLC acquired a new position in IAC Inc. (NASDAQ:IAC) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 170,271 shares of the company’s stock, valued at approximately $7,822,000. Nuveen LLC owned approximately 0.23% of IAC at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in IAC by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company’s stock worth $250,447,000 after buying an additional 557,134 shares in the last quarter. Southeastern Asset Management Inc. TN boosted its stake 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. Davis Selected Advisers boosted its stake in IAC by 0.8% during the 1st quarter. Davis Selected Advisers now owns 2,657,782 shares of the company’s stock valued at $122,099,000 after purchasing an additional 22,158 shares in the last quarter. Corvex Management LP boosted its stake in IAC by 61.8% during the 4th quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock valued at $103,983,000 after purchasing an additional 920,875 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in IAC by 5.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company’s stock valued at $72,029,000 after purchasing an additional 84,121 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IAC shares. Truist Financial decreased their price target on IAC from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Oppenheimer decreased their price target on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Benchmark decreased their price target on IAC from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their price objective on IAC from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Barclays reduced their price objective on IAC from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

IAC Stock Performance

IAC opened at $36.43 on Monday. The firm has a market cap of $2.71 billion, a PE ratio of -6.76 and a beta of 1.23. 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 business has a fifty day simple moving average of $37.97 and a 200-day simple moving average of $39.18. IAC Inc. has a fifty-two week low of $32.04 and a fifty-two week high of $55.40.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $2.87. The business 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 was down 7.5% compared to the same quarter last year. During the same period last year, the company posted ($1.71) EPS. As a group, equities analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.