ACR Alpine Capital Research LLC Purchases 13,282 Shares of IAC Inc. $IAC

ACR Alpine Capital Research LLC increased its position in IAC Inc. (NASDAQ:IAC) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,719 shares of the company’s stock after acquiring an additional 13,282 shares during the period. IAC comprises about 0.1% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 23rd biggest holding. ACR Alpine Capital Research LLC owned 0.24% of IAC worth $6,191,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IAC. GAMMA Investing LLC grew 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 buying an additional 367 shares during the period. Farther Finance Advisors LLC raised its position in IAC by 240.3% in the second 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. North Capital Inc. purchased a new position in shares of IAC during the 2nd quarter worth $75,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of IAC during the 2nd quarter valued at $83,000. Finally, Geneos Wealth Management Inc. grew its position in shares of IAC by 96.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock valued at $114,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

NASDAQ:IAC opened at $39.85 on Friday. The stock has a 50-day moving average price of $37.63 and a 200 day moving average price of $36.49. The stock has a market capitalization of $2.85 billion, a P/E ratio of -14.60 and a beta of 1.10. IAC Inc. has a 12-month low of $29.56 and a 12-month high of $50.49. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted 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). The company had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted ($2.93) earnings per share. Equities research analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent research reports. Benchmark decreased their target price on IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. KeyCorp reduced their price target on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their price objective on IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Wall Street Zen cut IAC from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Finally, UBS Group cut their price objective on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.67.

About IAC

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.