Bleakley Financial Group LLC Cuts Holdings in IAC Inc. (NASDAQ:IAC)

Bleakley Financial Group LLC lowered its holdings in IAC Inc. (NASDAQ:IAC) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,773 shares of the company’s stock after selling 309 shares during the quarter. Bleakley Financial Group LLC’s holdings in IAC were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC raised its position in IAC by 5.1% in the 4th quarter. DAVENPORT & Co LLC now owns 43,545 shares of the company’s stock worth $1,879,000 after buying an additional 2,118 shares during the last quarter. KBC Group NV grew its stake in shares of IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after acquiring an additional 608 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of IAC by 145.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,466 shares of the company’s stock valued at $408,000 after purchasing an additional 5,605 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after purchasing an additional 1,916 shares during the period. Finally, Empirical Asset Management LLC purchased a new stake in IAC in the fourth quarter worth approximately $7,794,000. 88.90% of the stock is owned by institutional investors.

IAC Stock Down 1.7 %

Shares of IAC stock opened at $41.60 on Friday. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -96.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The company’s fifty day moving average price is $43.59 and its 200-day moving average price is $48.51. IAC Inc. has a one year low of $39.61 and a one year high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $922.62 million. During the same period in the prior year, the business earned ($0.30) earnings per share. IAC’s revenue was down 15.5% compared to the same quarter last year. Sell-side analysts expect that IAC Inc. will post -3.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on IAC. TD Cowen lowered their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Barclays lowered their target price on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Macquarie reiterated an “outperform” rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. Finally, Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and cut their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

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.