AQR Capital Management LLC Has $8.02 Million Stock Position in IAC Inc. (NASDAQ:IAC)

AQR Capital Management LLC raised its position in IAC Inc. (NASDAQ:IAC) by 10.6% during the second quarter, HoldingsChannel.com reports. The firm owned 171,075 shares of the company’s stock after buying an additional 16,376 shares during the quarter. AQR Capital Management LLC’s holdings in IAC were worth $8,015,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of IAC during the 1st quarter worth $27,000. International Assets Investment Management LLC acquired a new position in IAC during the second quarter worth $39,000. CWM LLC increased its position in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in IAC during the second quarter valued at about $60,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of IAC during the 1st quarter worth about $80,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAC has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. JMP Securities assumed coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. Citigroup dropped their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Barclays decreased their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Stock Down 1.3 %

NASDAQ IAC opened at $51.08 on Friday. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $4.10 billion, a PE ratio of -32.33 and a beta of 1.32. The firm has a 50-day simple moving average of $51.47 and a 200 day simple moving average of $50.68.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) 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 the consensus estimate of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. IAC’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.76) EPS. On average, research analysts forecast that IAC Inc. will post -0.79 EPS for the current 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.