IAC Inc. (NASDAQ:IAC) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC lessened its holdings in shares of IAC Inc. (NASDAQ:IAC) by 8.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,430 shares of the company’s stock after selling 576 shares during the period. Knowledge Leaders Capital LLC’s holdings in IAC were worth $337,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Spire Wealth Management raised its holdings in IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after acquiring an additional 303 shares in the last quarter. Covestor Ltd raised its holdings in IAC by 15.4% in 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. Headlands Technologies LLC raised its holdings in IAC by 39.7% in the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock valued at $136,000 after acquiring an additional 768 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in IAC in the third quarter valued at approximately $201,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in IAC in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Performance

Shares of IAC traded up $0.52 during mid-day trading on Friday, reaching $48.62. 555,740 shares of the company’s stock were exchanged, compared to its average volume of 509,294. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. The business’s fifty day simple moving average is $52.13 and its 200-day simple moving average is $50.24. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $69.85. The stock has a market capitalization of $3.89 billion, a PE ratio of 19.60 and a beta of 1.32.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IAC. Truist Financial raised their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. UBS Group increased their price target 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. KeyCorp increased their price target on shares of IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Barclays increased their price target on shares of IAC from $62.00 to $72.00 and gave the company 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.69.

IAC Company 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.