Farther Finance Advisors LLC Has $44,000 Stock Position in IAC Inc. $IAC

Farther Finance Advisors LLC raised its holdings in shares of IAC Inc. (NASDAQ:IAC) by 240.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,174 shares of the company’s stock after acquiring an additional 829 shares during the quarter. Farther Finance Advisors LLC’s holdings in IAC were worth $44,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in IAC during the second quarter worth $894,000. Atticus Wealth Management LLC bought a new stake in IAC during the 2nd quarter worth about $51,000. Strs Ohio bought a new stake in IAC during the 1st quarter worth about $1,291,000. Focus Partners Wealth acquired a new position in shares of IAC during the 1st quarter worth about $270,000. Finally, Empowered Funds LLC increased its position in shares of IAC by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after acquiring an additional 718 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Down 1.1%

IAC opened at $34.22 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. IAC Inc. has a fifty-two week low of $32.04 and a fifty-two week high of $55.16. The stock has a fifty day moving average of $35.96 and a 200-day moving average of $37.10. The company has a market capitalization of $2.54 billion, a P/E ratio of -6.35 and a beta of 1.23.

IAC (NASDAQ:IAC) last released 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 for 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%.IAC’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.71) EPS. On average, equities analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler reduced their price target on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. JMP Securities decreased their price objective on shares of IAC from $64.00 to $47.00 and set a “market outperform” rating for the company in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. UBS Group raised their target price on shares of IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, KeyCorp reduced their price target on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.