MUFG Securities EMEA plc Makes New $3.77 Million Investment in IAC Inc. $IAC

MUFG Securities EMEA plc bought a new stake in shares of IAC Inc. (NASDAQ:IAC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 100,999 shares of the company’s stock, valued at approximately $3,771,000. MUFG Securities EMEA plc owned approximately 0.14% of IAC as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IAC. JPMorgan Chase & Co. boosted its holdings in IAC by 11.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company’s stock valued at $250,447,000 after purchasing an additional 557,134 shares during the period. Davis Selected Advisers grew its position in IAC by 0.8% during the first quarter. Davis Selected Advisers now owns 2,657,782 shares of the company’s stock worth $122,099,000 after buying an additional 22,158 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new position in IAC during the first quarter worth about $66,556,000. Charles Schwab Investment Management Inc. increased its stake in IAC by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company’s stock worth $46,638,000 after acquiring an additional 47,944 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of IAC by 422.9% in the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock valued at $40,025,000 after acquiring an additional 708,332 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Up 1.3%

Shares of NASDAQ IAC opened at $32.22 on Friday. The stock has a market capitalization of $2.40 billion, a P/E ratio of -5.98 and a beta of 1.23. IAC Inc. has a one year low of $31.30 and a one year high of $55.16. The firm’s 50 day simple moving average is $34.79 and its two-hundred day simple moving average is $36.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The firm had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. During the same period in the previous year, the business posted ($1.71) EPS. The business’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial cut their price target on shares of IAC from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Piper Sandler decreased their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Finally, KeyCorp dropped their price objective on shares of IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.