Quest Partners LLC Increases Position in IAC Inc. (NASDAQ:IAC)

Quest Partners LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC) by 2,546.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 21,701 shares of the company’s stock after buying an additional 20,881 shares during the period. Quest Partners LLC’s holdings in IAC were worth $1,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IAC. Principal Financial Group Inc. lifted its stake in shares of IAC by 5,474.2% during the second 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 during the period. DME Capital Management LP purchased a new position in shares of IAC during the second quarter valued at approximately $13,655,000. Bank of New York Mellon Corp lifted its stake in shares of IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after buying an additional 282,304 shares during the period. Swedbank AB purchased a new position in shares of IAC during the first quarter valued at approximately $11,460,000. Finally, Public Sector Pension Investment Board purchased a new position in shares of IAC during the second quarter valued at approximately $7,200,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. KeyCorp cut their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Truist Financial cut their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Barclays cut their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, IAC has an average rating of “Moderate Buy” and an average price target of $70.91.

IAC Stock Performance

Shares of IAC opened at $47.65 on Wednesday. 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 12 month low of $43.51 and a 12 month high of $58.29. The company’s fifty day moving average is $51.87 and its 200-day moving average is $50.81. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -110.81 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 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 company had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. Equities analysts expect that IAC Inc. will post -3.97 EPS 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.