Allianz Asset Management GmbH Has $365,000 Position in IAC Inc. $IAC

Allianz Asset Management GmbH lessened its stake in IAC Inc. (NASDAQ:IAC) by 87.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,720 shares of the company’s stock after selling 72,925 shares during the period. Allianz Asset Management GmbH’s holdings in IAC were worth $365,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IAC. Quantbot Technologies LP bought a new stake in IAC in the second quarter valued at about $2,924,000. Permanent Capital Management LP acquired a new position in shares of IAC during the 3rd quarter worth about $1,732,000. Levin Capital Strategies L.P. increased its stake in shares of IAC by 503.3% in the 2nd quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock valued at $16,077,000 after acquiring an additional 359,180 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of IAC by 20.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after acquiring an additional 1,117,313 shares during the period. Finally, AlphaQuest LLC boosted its stake in IAC by 1,127.5% during the 3rd quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after acquiring an additional 37,896 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IAC has been the topic of several analyst reports. Benchmark cut 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. KeyCorp dropped their price objective on IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Truist Financial decreased their target price on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group reaffirmed a “neutral” rating and set a $42.00 price target on shares of IAC in a research report on Friday, February 6th. Finally, Citigroup boosted their price objective on IAC from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.83.

IAC Trading Down 1.5%

Shares of NASDAQ:IAC opened at $34.31 on Friday. The company’s 50-day moving average price is $38.46 and its two-hundred day moving average price is $36.07. IAC Inc. has a one year low of $29.56 and a one year high of $50.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.56. The stock has a market capitalization of $2.46 billion, a PE ratio of -25.80 and a beta of 1.12.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. During the same period in the prior year, the firm posted ($2.39) EPS. IAC’s revenue was down 34.7% compared to the same quarter last year. On average, equities analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.