IAC (NASDAQ:IAC) Posts Earnings Results

IAC (NASDAQ:IAC) issued its quarterly earnings data on Tuesday. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66), FiscalAI reports. The business had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%.

IAC Trading Down 0.6%

NASDAQ IAC traded down $0.22 during trading on Tuesday, hitting $36.80. 1,813,843 shares of the company’s stock traded hands, compared to its average volume of 935,071. The stock has a fifty day moving average of $38.44 and a two-hundred day moving average of $36.35. IAC has a 12-month low of $29.56 and a 12-month high of $50.49. The firm has a market cap of $2.64 billion, a P/E ratio of -13.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on IAC shares. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. UBS Group decreased their target price on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Truist Financial lowered their price target on IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Jefferies Financial Group boosted their price objective on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and an average price target of $46.67.

Institutional Trading of IAC

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in IAC by 43.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company’s stock valued at $39,122,000 after buying an additional 349,969 shares during the period. Newtyn Management LLC increased its holdings in IAC by 10.0% during the 3rd quarter. Newtyn Management LLC now owns 1,100,000 shares of the company’s stock valued at $37,477,000 after purchasing an additional 100,000 shares during the period. Bank of America Corp DE increased its holdings in IAC by 47.1% during the 2nd quarter. Bank of America Corp DE now owns 601,586 shares of the company’s stock valued at $22,463,000 after purchasing an additional 192,743 shares during the period. Northern Right Capital Management L.P. raised its position in IAC by 89.0% during the 2nd quarter. Northern Right Capital Management L.P. now owns 568,409 shares of the company’s stock valued at $21,224,000 after purchasing an additional 267,731 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its holdings in IAC by 51.7% in the 3rd quarter. Gotham Asset Management LLC now owns 522,202 shares of the company’s stock worth $17,791,000 after buying an additional 177,991 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

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.