Northern Trust Corp Increases Position in IAC Inc. $IAC

Northern Trust Corp lifted its holdings in IAC Inc. (NASDAQ:IAC) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 523,413 shares of the company’s stock after buying an additional 55,826 shares during the period. Northern Trust Corp owned approximately 0.71% of IAC worth $24,046,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of IAC. Hsbc Holdings PLC purchased a new position in IAC in the fourth quarter valued at approximately $292,000. Aquatic Capital Management LLC purchased a new position in IAC in the fourth quarter valued at approximately $135,000. AQR Capital Management LLC lifted its stake in IAC by 58.2% in the fourth quarter. AQR Capital Management LLC now owns 167,488 shares of the company’s stock valued at $7,194,000 after purchasing an additional 61,627 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in IAC by 806.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,352 shares of the company’s stock valued at $1,913,000 after purchasing an additional 39,458 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in IAC in the fourth quarter valued at approximately $1,540,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

IAC has been the topic of several research analyst reports. Truist Financial dropped their price objective on IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Oppenheimer dropped 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. Piper Sandler dropped their target price on IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. UBS Group increased their target price on IAC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Cowen restated a “buy” rating on shares of IAC in a research report on Monday, May 5th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

IAC Trading Down 0.2%

NASDAQ:IAC opened at $36.62 on Monday. The company has a market cap of $2.72 billion, a P/E ratio of -6.79 and a beta of 1.26. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.40. The stock’s fifty day moving average price is $37.88 and its two-hundred day moving average price is $38.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87.

IAC (NASDAQ:IAC) last released its quarterly earnings results 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 firm had revenue of $586.93 million for the quarter, compared to analysts’ expectations of $601.38 million. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.71) earnings per share. As a group, analysts expect that IAC Inc. will post 0.43 EPS for the current 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.