Heritage Investors Management Corp Reduces Stake in IAC Inc. (NASDAQ:IAC)

Heritage Investors Management Corp decreased its position in shares of IAC Inc. (NASDAQ:IAC) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,760 shares of the company’s stock after selling 1,716 shares during the quarter. Heritage Investors Management Corp owned approximately 0.13% of IAC worth $5,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in IAC by 130.3% during the third quarter. SG Americas Securities LLC now owns 5,542 shares of the company’s stock worth $279,000 after acquiring an additional 3,136 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in IAC by 82.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock valued at $453,000 after buying an additional 4,051 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in IAC by 17.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 152,518 shares of the company’s stock valued at $7,685,000 after buying an additional 22,321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IAC by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,416 shares of the company’s stock worth $726,000 after buying an additional 1,992 shares during the period. Finally, Strs Ohio acquired a new stake in shares of IAC during the third quarter valued at about $1,486,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 0.5 %

NASDAQ IAC traded up $0.25 on Thursday, hitting $55.32. 1,038,862 shares of the stock were exchanged, compared to its average volume of 799,836. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $69.85. The company has a 50-day moving average price of $51.45 and a 200-day moving average price of $50.58. The company has a market cap of $4.44 billion, a PE ratio of 22.31 and a beta of 1.34. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Sell-side analysts anticipate that IAC Inc. will post -2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IAC has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday. KeyCorp dropped their price objective on IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Truist Financial increased their target price on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Oppenheimer lifted their target price on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Barclays increased their price target on shares of IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

About IAC

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.