Brown Advisory Inc. Has $27.08 Million Stake in IAC Inc. $IAC

Brown Advisory Inc. lowered its holdings in IAC Inc. (NASDAQ:IAC) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,147 shares of the company’s stock after selling 48,972 shares during the period. Brown Advisory Inc. owned about 0.98% of IAC worth $27,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its holdings in shares of IAC by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC boosted its position in IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after purchasing an additional 367 shares during the last quarter. US Bancorp DE grew its stake in 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 purchasing an additional 401 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of IAC by 0.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock worth $2,854,000 after purchasing an additional 410 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of IAC by 35.4% during the 1st quarter. Covestor Ltd now owns 2,378 shares of the company’s stock worth $110,000 after purchasing an additional 622 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Stock Performance

Shares of IAC stock opened at $36.76 on Friday. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -13.47 and a beta of 1.18. The company has a 50-day simple moving average of $33.66 and a 200 day simple moving average of $35.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56.

IAC (NASDAQ:IAC) last issued its quarterly earnings data 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). IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The company had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. During the same quarter last year, the business earned ($2.93) earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. On average, sell-side analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IAC. KeyCorp decreased their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Truist Financial decreased their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Benchmark dropped their target price on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. UBS Group reduced their price target on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a research report on Saturday. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.73.

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.