IAC Inc. (NASDAQ:IAC) Shares Sold by Parkside Investments LLC

Parkside Investments LLC lessened its holdings in shares of IAC Inc. (NASDAQ:IAC) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 205,662 shares of the company’s stock after selling 4,612 shares during the quarter. Parkside Investments LLC’s holdings in IAC were worth $8,872,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IAC. Nisa Investment Advisors LLC increased its stake in IAC by 2.7% in the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after acquiring an additional 490 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of IAC by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock worth $870,000 after acquiring an additional 553 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in IAC by 2.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company’s stock valued at $1,179,000 after purchasing an additional 597 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

Shares of IAC stock opened at $42.59 on Monday. The firm has a fifty day simple moving average of $44.51 and a 200-day simple moving average of $48.96. The company has a market capitalization of $3.43 billion, a PE ratio of -99.04 and a beta of 1.32. IAC Inc. has a twelve month low of $39.61 and a twelve month high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. KeyCorp dropped their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, TD Cowen dropped their target price 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

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.