Ethic Inc. Has $387,000 Holdings in IAC Inc. $IAC

Ethic Inc. raised its position in shares of IAC Inc. (NASDAQ:IAC) by 44.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,316 shares of the company’s stock after acquiring an additional 3,163 shares during the period. Ethic Inc.’s holdings in IAC were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IAC. GAMMA Investing LLC boosted its stake in shares of IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock valued at $35,000 after buying an additional 520 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in IAC during the first quarter worth $1,107,000. Allspring Global Investments Holdings LLC bought a new stake in IAC during the first quarter worth $2,590,000. DAVENPORT & Co LLC increased its holdings in shares of IAC by 10.7% during the first quarter. DAVENPORT & Co LLC now owns 48,215 shares of the company’s stock worth $2,215,000 after buying an additional 4,670 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of IAC by 2.4% during the first quarter. Principal Financial Group Inc. now owns 351,787 shares of the company’s stock worth $16,161,000 after buying an additional 8,396 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of IAC from $61.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group increased 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. Benchmark decreased 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. KeyCorp decreased 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.92.

IAC Stock Performance

Shares of IAC stock opened at $31.74 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $36.29. IAC Inc. has a 1-year low of $31.58 and a 1-year high of $55.16. The company has a market cap of $2.36 billion, a P/E ratio of -5.89 and a beta of 1.23.

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

IAC Company 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.