Brooktree Capital Management Has $9.16 Million Position in IAC Inc. (NASDAQ:IAC)

Brooktree Capital Management decreased its position in shares of IAC Inc. (NASDAQ:IAC) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,904 shares of the company’s stock after selling 8,431 shares during the quarter. IAC makes up 7.4% of Brooktree Capital Management’s holdings, making the stock its 3rd largest holding. Brooktree Capital Management owned 0.22% of IAC worth $9,161,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Spire Wealth Management lifted its stake in IAC by 23.1% in the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after purchasing an additional 303 shares in the last quarter. Covestor Ltd lifted its stake in IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares in the last quarter. Headlands Technologies LLC lifted its stake in IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after purchasing an additional 768 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of IAC in the 3rd quarter worth about $201,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of IAC in the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IAC. KeyCorp boosted their target price on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. UBS Group boosted their target price on shares of IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Barclays upped their price target on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price target on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.69.

IAC Trading Up 0.5 %

IAC stock traded up $0.24 during mid-day trading on Wednesday, reaching $47.80. The company had a trading volume of 159,354 shares, compared to its average volume of 541,580. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market capitalization of $3.84 billion, a PE ratio of 19.18 and a beta of 1.32. The firm has a 50 day moving average of $51.77 and a 200 day moving average of $50.28. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, equities analysts predict that IAC Inc. will post -2.02 earnings per share for the current fiscal 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.