Thrivent Financial for Lutherans Sells 2,483 Shares of IAC Inc. (NASDAQ:IAC)

Thrivent Financial for Lutherans reduced its stake in IAC Inc. (NASDAQ:IAC) by 4.3% during the 3rd quarter, Holdings Channel reports. The fund owned 55,515 shares of the company’s stock after selling 2,483 shares during the period. Thrivent Financial for Lutherans’ holdings in IAC were worth $2,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC increased its position in IAC by 1.5% during the 3rd quarter. Natixis Advisors LLC now owns 83,100 shares of the company’s stock worth $4,472,000 after buying an additional 1,199 shares during the period. Royce & Associates LP increased its position in IAC by 5.1% during the third quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock worth $14,999,000 after acquiring an additional 13,400 shares during the period. Brooktree Capital Management increased its position in IAC by 0.9% during the third quarter. Brooktree Capital Management now owns 165,843 shares of the company’s stock worth $8,926,000 after acquiring an additional 1,430 shares during the period. Oppenheimer Asset Management Inc. raised its stake in IAC by 2.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company’s stock worth $1,179,000 after purchasing an additional 597 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of analyst reports. TD Cowen dropped their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Barclays decreased their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Citigroup cut their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, KeyCorp decreased their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $70.36.

IAC Price Performance

IAC stock opened at $47.76 on Wednesday. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -111.07 and a beta of 1.33. The company has a 50 day simple moving average of $51.47 and a 200 day simple moving average of $50.55.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Research analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

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.