IAC Inc. $IAC Shares Sold by Helikon Investments Ltd

Helikon Investments Ltd reduced its stake in IAC Inc. (NASDAQ:IAC) by 34.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,325,799 shares of the company’s stock after selling 711,041 shares during the quarter. IAC accounts for 3.1% of Helikon Investments Ltd’s portfolio, making the stock its 7th largest position. Helikon Investments Ltd’s holdings in IAC were worth $45,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in IAC by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after purchasing an additional 1,117,313 shares during the period. Burgundy Asset Management Ltd. raised its holdings in shares of IAC by 73.8% in 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. Patient Capital Management LLC lifted its stake in 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 acquiring an additional 369,239 shares in the last quarter. Norges Bank purchased a new position in IAC during the 2nd quarter valued at about $31,025,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in IAC by 23.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 629,968 shares of the company’s stock valued at $21,532,000 after acquiring an additional 118,865 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Up 2.4%

NASDAQ IAC opened at $37.40 on Monday. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The firm has a 50 day moving average of $38.27 and a two-hundred day moving average of $35.99. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $2.68 billion, a PE ratio of -28.12 and a beta of 1.12.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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). The firm had revenue of $645.98 million for the quarter, compared to analysts’ expectations of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.IAC’s revenue for the quarter was down 34.7% on a year-over-year basis. During the same period last year, the firm posted ($2.39) earnings per share. As a group, research analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Oppenheimer lowered shares of IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Barclays cut their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. KeyCorp reduced their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. UBS Group reissued a “neutral” rating and issued a $42.00 price target on shares of IAC in a research report on Friday, February 6th. Finally, Citigroup upped their price objective on IAC from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $46.83.

About IAC

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.