IAC Inc. $IAC Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in shares of IAC Inc. (NASDAQ:IAC) by 551.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,852 shares of the company’s stock after acquiring an additional 131,920 shares during the quarter. Assenagon Asset Management S.A. owned about 0.21% of IAC worth $5,310,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IAC. AlphaQuest LLC boosted its stake in IAC by 64.8% during the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company’s stock valued at $146,000 after purchasing an additional 1,253 shares during the period. Quantbot Technologies LP acquired a new stake in shares of IAC in the second quarter valued at approximately $2,924,000. Royal Bank of Canada raised its holdings in shares of IAC by 12.7% during the first quarter. Royal Bank of Canada now owns 449,115 shares of the company’s stock valued at $20,632,000 after buying an additional 50,463 shares during the last quarter. Maverick Capital Ltd. boosted its position in shares of IAC by 112.7% during the first quarter. Maverick Capital Ltd. now owns 18,874 shares of the company’s stock worth $867,000 after buying an additional 10,000 shares during the period. Finally, Levin Capital Strategies L.P. boosted its position in shares of IAC by 503.3% during the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock worth $16,077,000 after buying an additional 359,180 shares during the period. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

NASDAQ:IAC opened at $40.06 on Monday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $34.55 and its 200 day moving average price is $36.09. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49. The firm has a market cap of $2.87 billion, a P/E ratio of -14.67 and a beta of 1.18.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The business 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%. IAC’s revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.93) earnings per share. As a group, sell-side analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on IAC. Jefferies Financial Group raised their target price on IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Truist Financial lowered their price target on IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. KeyCorp reduced their price objective on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, Wall Street Zen lowered shares of IAC from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.