IAC Inc. (NASDAQ:IAC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 42.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,196 shares of the company’s stock after buying an additional 9,221 shares during the period. Victory Capital Management Inc.’s holdings in IAC were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brown Advisory Inc. purchased a new position in IAC during the 4th quarter worth approximately $209,000. Norges Bank purchased a new stake in IAC during the 4th quarter valued at approximately $39,426,000. Quest Partners LLC acquired a new stake in IAC during the 4th quarter worth approximately $390,000. Aigen Investment Management LP purchased a new position in shares of IAC in the 4th quarter valued at approximately $365,000. Finally, IMC Chicago LLC acquired a new position in shares of IAC in the fourth quarter valued at approximately $724,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

IAC has been the subject of several recent research reports. JMP Securities assumed coverage on IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price target for the company. Citigroup reduced their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays dropped their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Finally, Truist Financial boosted their target price on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Trading Up 1.1 %

Shares of IAC stock opened at $54.05 on Thursday. The company has a 50-day moving average of $50.84 and a two-hundred day moving average of $50.54. The stock has a market cap of $4.34 billion, a PE ratio of -34.21 and a beta of 1.32. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.76) earnings per share. On average, research analysts anticipate that IAC Inc. will post -0.79 EPS for the current fiscal year.

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.