Delta Financial Advisors LLC Sells 1,875 Shares of IAC Inc. (NASDAQ:IAC)

Delta Financial Advisors LLC lessened its stake in IAC Inc. (NASDAQ:IAC) by 30.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,271 shares of the company’s stock after selling 1,875 shares during the quarter. Delta Financial Advisors LLC’s holdings in IAC were worth $224,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in IAC by 3.1% in the first quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock worth $808,000 after purchasing an additional 246 shares during the last quarter. DAVENPORT & Co LLC increased its position in IAC by 0.6% during the 4th quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company’s stock valued at $2,325,000 after buying an additional 271 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in IAC by 3.7% in the first quarter. Principal Financial Group Inc. now owns 7,718 shares of the company’s stock worth $398,000 after acquiring an additional 277 shares in the last quarter. Covestor Ltd increased its holdings in shares of IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after acquiring an additional 286 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of IAC by 23.1% in the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after purchasing an additional 303 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Trading Up 1.9 %

Shares of IAC stock traded up $0.90 on Thursday, hitting $47.96. 110,366 shares of the stock traded hands, compared to its average volume of 548,669. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $69.85. The stock has a market capitalization of $3.84 billion, a PE ratio of 18.98 and a beta of 1.32. The firm’s 50-day moving average price is $52.87 and its two-hundred day moving average price is $50.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. As a group, analysts anticipate that IAC Inc. will post -1.99 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial boosted their price target on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. KeyCorp lifted their target price on shares of IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Barclays increased their target price on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average target price of $78.69.

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.