Tandem Capital Management Corp ADV Acquires 2,737 Shares of IAC Inc. (NASDAQ:IAC)

Tandem Capital Management Corp ADV raised its position in IAC Inc. (NASDAQ:IAC) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,120 shares of the company’s stock after purchasing an additional 2,737 shares during the quarter. IAC accounts for about 1.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 25th biggest holding. Tandem Capital Management Corp ADV’s holdings in IAC were worth $2,049,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Davis Selected Advisers boosted its position in shares of IAC by 16.9% during the third quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock valued at $149,201,000 after buying an additional 428,065 shares during the last quarter. TimesSquare Capital Management LLC grew its position in shares of IAC by 66.6% in the third quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after purchasing an additional 413,440 shares in the last quarter. Scopus Asset Management L.P. grew its position in shares of IAC by 100.0% in the third quarter. Scopus Asset Management L.P. now owns 550,000 shares of the company’s stock valued at $27,714,000 after purchasing an additional 275,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in IAC by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 812,196 shares of the company’s stock worth $40,927,000 after buying an additional 203,839 shares in the last quarter. Finally, Cove Street Capital LLC grew its position in IAC by 58.7% during the third quarter. Cove Street Capital LLC now owns 492,072 shares of the company’s stock worth $23,841,000 after buying an additional 182,049 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of recent research reports. Truist Financial boosted their target price on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. UBS Group upped their price target on IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Barclays increased their target price on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, KeyCorp increased their target price on IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Price Performance

NASDAQ:IAC traded down $1.07 on Thursday, reaching $48.10. 563,032 shares of the company’s stock traded hands, compared to its average volume of 546,765. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $52.29 and a 200-day simple moving average of $50.24. The firm has a market cap of $3.85 billion, a PE ratio of 19.40 and a beta of 1.32. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Equities research analysts forecast that IAC Inc. will post -2.02 earnings per share for the current year.

IAC Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.