Brooktree Capital Management Has $9.97 Million Stock Position in IAC Inc. $IAC

Brooktree Capital Management raised its position in shares of IAC Inc. (NASDAQ:IAC) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,678 shares of the company’s stock after acquiring an additional 46,001 shares during the quarter. IAC comprises 6.3% of Brooktree Capital Management’s investment portfolio, making the stock its 6th biggest holding. Brooktree Capital Management owned about 0.41% of IAC worth $9,972,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in IAC. Goldman Sachs Group Inc. boosted its position in shares of IAC by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock valued at $19,087,000 after purchasing an additional 115,652 shares in the last quarter. United Services Automobile Association acquired a new position in IAC in the first quarter valued at approximately $207,000. Empowered Funds LLC boosted its holdings in shares of IAC by 9.8% during the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after buying an additional 718 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of IAC during the 1st quarter worth approximately $270,000. Finally, Ethic Inc. increased its stake in shares of IAC by 44.2% in the 2nd quarter. Ethic Inc. now owns 10,316 shares of the company’s stock valued at $387,000 after acquiring an additional 3,163 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Stock Performance

Shares of IAC stock opened at $34.31 on Monday. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $38.46 and a 200-day moving average price of $36.04. The company has a market cap of $2.46 billion, a PE ratio of -25.80 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IAC shares. Wall Street Zen lowered shares of IAC from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. KeyCorp dropped their price objective on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Zacks Research downgraded IAC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Oppenheimer lowered IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. increased their price target on IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average target price of $46.83.

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.