IAC Inc. $IAC Stock Holdings Increased by Ovata Capital Management Ltd

Ovata Capital Management Ltd grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 27.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,098 shares of the company’s stock after purchasing an additional 15,000 shares during the period. IAC makes up approximately 0.5% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 23rd largest holding. Ovata Capital Management Ltd owned 0.10% of IAC worth $2,388,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its position in IAC by 20.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after buying an additional 1,117,313 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in IAC by 73.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,517,797 shares of the company’s stock valued at $94,015,000 after buying an additional 1,069,044 shares during the period. Norges Bank bought a new stake in shares of IAC during the 2nd quarter worth about $31,025,000. Patient Capital Management LLC raised its position in shares of IAC by 21.2% during the 3rd quarter. Patient Capital Management LLC now owns 2,108,245 shares of the company’s stock worth $71,828,000 after buying an additional 369,239 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of IAC by 43.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company’s stock worth $39,122,000 after acquiring an additional 349,969 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on IAC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Oppenheimer downgraded IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, UBS Group restated a “neutral” rating and issued a $42.00 price objective on shares of IAC in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $47.62.

IAC Stock Up 2.0%

IAC stock opened at $38.53 on Wednesday. The firm has a market cap of $2.74 billion, a PE ratio of -28.97 and a beta of 1.09. IAC Inc. has a 12 month low of $29.56 and a 12 month high of $50.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a 50 day simple moving average of $37.62 and a 200 day simple moving average of $36.23.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company had revenue of $645.98 million during the quarter, compared to the consensus estimate of $641.01 million. During the same period in the prior year, the company posted ($2.39) EPS. IAC’s quarterly revenue was down 34.7% on a year-over-year basis. Equities research analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

IAC Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.