Applied Fundamental Research LLC Reduces Stock Position in IAC Inc. (NASDAQ:IAC)

Applied Fundamental Research LLC reduced its position in shares of IAC Inc. (NASDAQ:IAC) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 371,359 shares of the company’s stock after selling 9,618 shares during the quarter. IAC accounts for about 13.2% of Applied Fundamental Research LLC’s investment portfolio, making the stock its biggest holding. Applied Fundamental Research LLC’s holdings in IAC were worth $19,987,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IAC. Tandem Capital Management Corp ADV raised its stake in shares of IAC by 0.6% in the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after purchasing an additional 260 shares during the last quarter. Greenwich Wealth Management LLC increased its holdings in IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after buying an additional 284 shares in the last quarter. Nisa Investment Advisors LLC raised its position in IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after buying an additional 405 shares during the last quarter. CWM LLC lifted its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after acquiring an additional 490 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IAC shares. Barclays decreased their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Truist Financial decreased their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Macquarie reissued an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Finally, TD Cowen lowered their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $70.36.

IAC Stock Performance

Shares of IAC opened at $48.56 on Tuesday. The business has a 50-day simple moving average of $51.59 and a two-hundred day simple moving average of $50.60. 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 52 week low of $43.51 and a 52 week high of $58.29. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -112.93 and a beta of 1.33.

IAC (NASDAQ:IAC) last released its 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 return on equity of 5.63% and a negative net margin of 0.34%. The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The company’s revenue was down 15.5% compared to the same quarter last year. On average, analysts expect that IAC Inc. will post -3.97 EPS for the current year.

About IAC

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.