SG Americas Securities LLC Lowers Stock Holdings in IAC Inc. $IAC

SG Americas Securities LLC lessened its holdings in shares of IAC Inc. (NASDAQ:IAC) by 70.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,867 shares of the company’s stock after selling 16,099 shares during the period. SG Americas Securities LLC’s holdings in IAC were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IAC. GAMMA Investing LLC increased its position in shares of IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after acquiring an additional 367 shares during the period. Farther Finance Advisors LLC lifted its stake in IAC by 240.3% in the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after acquiring an additional 829 shares during the last quarter. North Capital Inc. acquired a new stake in shares of IAC in the 2nd quarter valued at $75,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of IAC during the second quarter worth $83,000. Finally, Geneos Wealth Management Inc. raised its stake 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 buying an additional 1,500 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Trading Down 2.2%

Shares of IAC stock opened at $38.42 on Thursday. The business’s fifty day moving average price is $38.15 and its 200 day moving average price is $36.45. The firm has a market capitalization of $2.75 billion, a PE ratio of -14.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $50.49.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The company had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. During the same period last year, the company earned ($2.93) earnings per share. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on IAC shares. UBS Group dropped their price objective on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Jefferies Financial Group raised their price target on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Barclays decreased their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Truist Financial dropped their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.67.

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.