Marco Investment Management LLC Has $867,000 Stock Position in IAC Inc. (NASDAQ:IAC)

Marco Investment Management LLC lowered its stake in IAC Inc. (NASDAQ:IAC) by 7.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,104 shares of the company’s stock after selling 1,350 shares during the period. Marco Investment Management LLC’s holdings in IAC were worth $867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of IAC in the 2nd quarter valued at $1,649,000. Highbridge Capital Management LLC boosted its stake in IAC by 70.4% in the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock valued at $7,746,000 after buying an additional 68,291 shares in the last quarter. Royce & Associates LP grew its position in IAC by 5.1% in the third quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after acquiring an additional 13,400 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after acquiring an additional 79,951 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of IAC in the first quarter worth about $11,460,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $48.47 on Friday. The stock’s 50 day moving average is $51.67 and its 200 day moving average is $50.68. IAC Inc. has a one year low of $43.51 and a one year high of $58.29. The firm has a market cap of $3.90 billion, a P/E ratio of -112.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, research analysts expect that IAC Inc. will post -3.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IAC shares. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. KeyCorp cut their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial lowered their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Macquarie reissued an “outperform” rating and set a $14.00 price objective on shares of IAC in a report on Thursday, November 14th. Finally, Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $70.36.

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.