IAC Inc. (NASDAQ:IAC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in IAC Inc. (NASDAQ:IAC) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,630,276 shares of the company’s stock after selling 273,776 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of IAC worth $303,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of IAC during the second quarter valued at approximately $39,000. GAMMA Investing LLC increased its position in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares during the period. Quarry LP lifted its stake in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after buying an additional 785 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of IAC during the second quarter valued at $208,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of IAC during the third quarter worth about $208,000. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on IAC shares. TD Cowen decreased 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. JMP Securities restated a “market outperform” rating and issued a $70.00 target price on shares of IAC in a research report on Monday, December 16th. Macquarie reissued an “outperform” rating and issued a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. Truist Financial lowered their price target on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

IAC Price Performance

Shares of IAC stock opened at $43.13 on Monday. IAC Inc. has a 52 week low of $41.08 and a 52 week 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. The stock has a market cap of $3.47 billion, a PE ratio of -100.30 and a beta of 1.31. The company’s 50-day moving average price is $47.90 and its two-hundred day moving average price is $49.58.

IAC (NASDAQ:IAC) last released its 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 business had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. As a group, sell-side analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

IAC Company 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.