FORA Capital LLC Invests $478,000 in IAC Inc. (NASDAQ:IAC)

FORA Capital LLC bought a new position in shares of IAC Inc. (NASDAQ:IAC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,962 shares of the company’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IAC. Hsbc Holdings PLC acquired a new stake in shares of IAC during the third quarter worth $214,000. Tower Research Capital LLC TRC raised its stake in IAC by 342.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,644 shares of the company’s stock valued at $335,000 after purchasing an additional 5,142 shares in the last quarter. Citigroup Inc. raised its stake in IAC by 9.4% in the third quarter. Citigroup Inc. now owns 15,286 shares of the company’s stock valued at $770,000 after purchasing an additional 1,315 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in IAC by 14.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 194,635 shares of the company’s stock valued at $9,808,000 after purchasing an additional 24,935 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in IAC in the fourth quarter valued at about $345,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IAC has been the subject of a number of analyst reports. Barclays boosted their price target on IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. KeyCorp boosted their price target on IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company boosted their target price on IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. JMP Securities started coverage on IAC in a research note on Tuesday. They set an “outperform” rating and a $78.00 target price for the company. Finally, StockNews.com downgraded IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.77.

IAC Trading Up 4.7 %

Shares of NASDAQ:IAC traded up $2.18 during midday trading on Tuesday, hitting $48.85. 228,170 shares of the stock were exchanged, compared to its average volume of 750,599. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -29.54 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70. The business’s 50-day moving average price is $50.05 and its 200 day moving average price is $51.31. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.21. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The business had revenue of $929.68 million for the quarter, compared to analysts’ expectations of $937.68 million. Analysts predict that IAC Inc. will post 0.09 earnings per share for the current year.

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.