B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 56,650 IAC Inc. (NASDAQ:IAC)

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

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. KeyCorp reduced their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday. TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Citigroup dropped their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Finally, Barclays lowered their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.36.

IAC Stock Performance

Shares of IAC stock opened at $47.72 on Thursday. The stock has a market capitalization of $3.84 billion, a PE ratio of -110.97 and a beta of 1.33. The business’s 50 day simple moving average is $51.82 and its 200 day simple moving average is $50.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC Inc. has a one year low of $43.51 and a one year high of $58.29.

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