Quantbot Technologies LP Makes New Investment in IAC Inc. $IAC

Quantbot Technologies LP bought a new stake in shares of IAC Inc. (NASDAQ:IAC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 78,320 shares of the company’s stock, valued at approximately $2,924,000.

Several other institutional investors also recently modified their holdings of IAC. Teacher Retirement System of Texas lifted its holdings in IAC by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after buying an additional 316 shares during the period. GAMMA Investing LLC raised its position in shares of IAC by 48.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after acquiring an additional 367 shares during the last quarter. US Bancorp DE raised its position in shares of IAC by 21.9% during the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after acquiring an additional 401 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of IAC by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock valued at $2,854,000 after purchasing an additional 410 shares during the period. Finally, Covestor Ltd boosted its position in shares of IAC by 35.4% in the 1st quarter. Covestor Ltd now owns 2,378 shares of the company’s stock worth $110,000 after purchasing an additional 622 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the topic of several analyst reports. KeyCorp cut their target price on IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Benchmark cut their price target on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a research note on Wednesday, October 8th. UBS Group lowered their target price on shares of IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Finally, Barclays reduced their price target on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.73.

IAC Stock Performance

Shares of IAC stock opened at $36.17 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The company’s 50 day moving average price is $33.62 and its two-hundred day moving average price is $35.96. The company has a market capitalization of $2.59 billion, a P/E ratio of -13.25 and a beta of 1.18.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The company had revenue of $589.79 million for the quarter, compared to the consensus estimate of $601.86 million. During the same period in the prior year, the company earned ($2.93) EPS. The firm’s revenue was down 8.1% on a year-over-year basis. On average, analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

IAC Company 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.