IAC Inc. $IAC Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its position in IAC Inc. (NASDAQ:IAC) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 259,497 shares of the company’s stock after selling 17,730 shares during the quarter. Royce & Associates LP owned about 0.36% of IAC worth $8,841,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC purchased a new stake in shares of IAC in the 3rd quarter valued at approximately $39,000. North Capital Inc. acquired a new position in IAC in the second quarter valued at approximately $75,000. Skandinaviska Enskilda Banken AB publ purchased a new position in IAC in the second quarter worth approximately $83,000. Geneos Wealth Management Inc. raised its position in IAC by 96.2% in the second quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock valued at $114,000 after purchasing an additional 1,500 shares during the period. Finally, United Services Automobile Association purchased a new stake in IAC in the first quarter valued at $207,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IAC shares. Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Citigroup lifted their price target on shares of IAC from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. UBS Group restated a “neutral” rating and issued a $42.00 price objective on shares of IAC in a report on Friday, February 6th. Finally, Zacks Research cut shares of IAC from a “hold” rating to a “strong sell” 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Stock Up 0.8%

IAC stock opened at $37.65 on Wednesday. The firm has a market capitalization of $2.68 billion, a P/E ratio of -28.31 and a beta of 1.09. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. IAC Inc. has a twelve month low of $29.56 and a twelve month high of $50.49. The stock’s fifty day simple moving average is $37.95 and its 200-day simple moving average is $36.10.

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 analysts’ consensus estimates 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 analyst estimates of $641.01 million. During the same period in the prior year, the business earned ($2.39) EPS. IAC’s revenue for the quarter was down 34.7% on a year-over-year basis. As a group, equities analysts expect 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.