Applied Fundamental Research LLC Has $15.27 Million Stake in IAC Inc. $IAC

Applied Fundamental Research LLC lowered its position in IAC Inc. (NASDAQ:IAC) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 448,254 shares of the company’s stock after selling 19,287 shares during the quarter. IAC makes up about 14.8% of Applied Fundamental Research LLC’s portfolio, making the stock its 2nd biggest position. Applied Fundamental Research LLC owned approximately 0.60% of IAC worth $15,272,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after buying an additional 367 shares during the period. Farther Finance Advisors LLC increased its stake in shares of IAC by 240.3% during the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after buying an additional 829 shares during the period. North Capital Inc. purchased a new position in shares of IAC during the second quarter valued at $75,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of IAC in the second quarter valued at about $83,000. Finally, Geneos Wealth Management Inc. lifted its stake in IAC by 96.2% in the second quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock worth $114,000 after acquiring an additional 1,500 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on IAC shares. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. KeyCorp lowered their price target on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Barclays cut their price objective on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen downgraded shares of IAC from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, Benchmark lowered their target price on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

IAC Stock Up 2.0%

Shares of IAC stock opened at $39.63 on Thursday. 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 company has a market cap of $2.84 billion, a P/E ratio of -14.52 and a beta of 1.10. The firm’s 50 day moving average price is $37.51 and its 200-day moving average price is $36.47. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The firm had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. During the same quarter last year, the business earned ($2.93) earnings per share. IAC’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 EPS for the current fiscal year.

IAC 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.