Blueshift Asset Management LLC Boosts Stock Position in IAC Inc. $IAC

Blueshift Asset Management LLC raised its stake in IAC Inc. (NASDAQ:IAC) by 227.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,697 shares of the company’s stock after purchasing an additional 35,922 shares during the quarter. IAC accounts for 0.6% of Blueshift Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding. Blueshift Asset Management LLC owned about 0.07% of IAC worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after buying an additional 367 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after acquiring an additional 829 shares during the period. Atticus Wealth Management LLC purchased a new stake in shares of IAC in the second quarter valued at about $51,000. North Capital Inc. acquired a new position in shares of IAC during the second quarter worth about $75,000. Finally, US Bancorp DE raised its holdings in IAC by 21.9% during the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock worth $103,000 after purchasing an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IAC. Benchmark dropped their target price on IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Oppenheimer reduced their target price on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Barclays decreased their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Piper Sandler cut their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average target price of $46.73.

IAC Stock Performance

Shares of NASDAQ IAC opened at $35.70 on Tuesday. The company has a 50-day simple moving average of $33.52 and a 200-day simple moving average of $35.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56. The company has a market cap of $2.56 billion, a PE ratio of -13.08 and a beta of 1.18. IAC Inc. has a 12 month low of $29.56 and a 12 month high of $50.49.

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

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.