B. Metzler seel. Sohn & Co. Holding AG Invests $3.05 Million in IAC Inc. (NASDAQ:IAC)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in IAC Inc. (NASDAQ:IAC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 56,650 shares of the company’s stock, valued at approximately $3,049,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.07% of IAC as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after buying an additional 337,268 shares in the last quarter. DME Capital Management LP acquired a new position in IAC in the second quarter valued at about $13,655,000. Bank of New York Mellon Corp increased its holdings in shares of IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Swedbank AB acquired a new stake in shares of IAC during the first quarter worth about $11,460,000. Finally, Public Sector Pension Investment Board bought a new position in shares of IAC during the 2nd quarter valued at about $7,200,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup dropped their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays dropped their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. KeyCorp reduced their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Finally, Truist Financial cut their price target on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and an average price target of $70.36.

IAC Price Performance

Shares of NASDAQ IAC opened at $47.72 on Thursday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC Inc. has a twelve month low of $43.51 and a twelve month high of $58.29. The business’s 50 day moving average price is $51.82 and its two-hundred day moving average price is $50.79. The company has a market cap of $3.84 billion, a PE ratio of -110.97 and a beta of 1.33.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, analysts predict that IAC Inc. will post -3.97 EPS for the current year.

IAC Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.