IAC Inc. (NASDAQ:IAC) Holdings Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of IAC Inc. (NASDAQ:IAC) by 2.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,913 shares of the company’s stock after buying an additional 597 shares during the period. Oppenheimer Asset Management Inc.’s holdings in IAC were worth $1,179,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IAC. Envestnet Portfolio Solutions Inc. acquired a new position in shares of IAC in the 1st quarter valued at $221,000. Russell Investments Group Ltd. boosted its position in shares of IAC by 29.0% in the 1st quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock valued at $5,595,000 after purchasing an additional 23,567 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of IAC by 6.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock valued at $4,619,000 after purchasing an additional 5,172 shares during the period. Edgestream Partners L.P. acquired a new position in shares of IAC in the 1st quarter valued at $575,000. Finally, Boulder Hill Capital Management LP acquired a new position in shares of IAC in the 1st quarter valued at $987,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen reduced their price objective on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Citigroup reduced their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Macquarie reissued an “outperform” rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Finally, Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and an average target price of $70.91.

IAC Stock Performance

Shares of NASDAQ IAC opened at $47.21 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -109.79 and a beta of 1.33. The business’s 50-day simple moving average is $51.91 and its 200-day simple moving average is $50.86. IAC Inc. has a 52 week low of $43.51 and a 52 week high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) EPS. As a group, equities research analysts expect that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

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.