IAC Inc. (NASDAQ:IAC) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in IAC Inc. (NASDAQ:IAC) by 25.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,212 shares of the company’s stock after buying an additional 2,845 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IAC were worth $666,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of IAC. Brown Advisory Inc. acquired a new position in IAC in the 4th quarter valued at $209,000. Norges Bank purchased a new stake in shares of IAC during the 4th quarter worth $39,426,000. Quest Partners LLC purchased a new stake in shares of IAC during the 4th quarter worth $390,000. Aigen Investment Management LP purchased a new stake in shares of IAC during the 4th quarter worth $365,000. Finally, IMC Chicago LLC purchased a new stake in shares of IAC during the 4th quarter worth $724,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

NASDAQ:IAC opened at $54.65 on Friday. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -34.59 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. The company’s 50-day moving average is $50.95 and its two-hundred day moving average is $50.57. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. IAC’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.76) earnings per share. Research analysts expect that IAC Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IAC shares. Citigroup decreased their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. KeyCorp decreased their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Finally, Barclays decreased their price objective on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.40.

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.