Tudor Investment Corp ET AL Acquires Shares of 177,567 IAC Inc. $IAC

Tudor Investment Corp ET AL acquired a new stake in IAC Inc. (NASDAQ:IAC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 177,567 shares of the company’s stock, valued at approximately $6,050,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Permanent Capital Management LP purchased a new stake in shares of IAC during the third quarter worth about $1,732,000. AlphaQuest LLC increased its stake in shares of IAC by 1,127.5% during the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after purchasing an additional 37,896 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of IAC by 8.7% during the third quarter. Public Sector Pension Investment Board now owns 504,604 shares of the company’s stock worth $17,192,000 after purchasing an additional 40,468 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of IAC during the third quarter worth about $875,000. Finally, Highbridge Capital Management LLC increased its stake in shares of IAC by 68.9% during the third quarter. Highbridge Capital Management LLC now owns 484,325 shares of the company’s stock worth $16,501,000 after purchasing an additional 197,590 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Jefferies Financial Group boosted their target price on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Zacks Research raised shares of IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Benchmark reissued a “buy” rating on shares of IAC in a research note on Tuesday, March 3rd. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.62.

IAC Stock Performance

NASDAQ:IAC opened at $40.26 on Wednesday. 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 market capitalization of $2.86 billion, a price-to-earnings ratio of -30.27 and a beta of 1.06. The company’s 50-day moving average is $37.52 and its two-hundred day moving average is $36.51. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $41.86.

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

IAC Company 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.