Y Intercept Hong Kong Ltd Takes $611,000 Position in IAC Inc. $IAC

Y Intercept Hong Kong Ltd acquired a new stake in IAC Inc. (NASDAQ:IAC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,372 shares of the company’s stock, valued at approximately $611,000.

Several other hedge funds have also modified their holdings of the stock. Bleakley Financial Group LLC raised its stake in shares of IAC by 1.0% in the first quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company’s stock valued at $1,520,000 after acquiring an additional 324 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of IAC by 48.5% in the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after acquiring an additional 367 shares in the last quarter. US Bancorp DE raised its stake in shares of IAC by 21.9% in the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after acquiring an additional 401 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of IAC by 35.4% in the first quarter. Covestor Ltd now owns 2,378 shares of the company’s stock valued at $110,000 after acquiring an additional 622 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Up 3.2%

IAC opened at $33.01 on Thursday. The business’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $36.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.56. IAC Inc. has a one year low of $29.56 and a one year high of $55.16. The stock has a market capitalization of $2.36 billion, a P/E ratio of -12.09 and a beta of 1.25.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business’s revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the firm earned ($2.93) EPS. Analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IAC shares. UBS Group cut their price target on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday. Oppenheimer cut their price target on IAC from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler cut their price target on IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Barclays cut their price target on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.54.

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.