DAVENPORT & Co LLC Has $1.88 Million Stock Holdings in IAC Inc. (NASDAQ:IAC)

DAVENPORT & Co LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 43,545 shares of the company’s stock after buying an additional 2,118 shares during the quarter. DAVENPORT & Co LLC’s holdings in IAC were worth $1,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IAC. Dimensional Fund Advisors LP bought a new position in IAC during the second quarter worth about $2,596,000. Bank of Montreal Can bought a new stake in IAC during the 2nd quarter worth approximately $506,000. The Manufacturers Life Insurance Company raised its holdings in IAC by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock worth $870,000 after buying an additional 553 shares during the period. Algert Global LLC bought a new position in IAC in the second quarter valued at approximately $366,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of IAC in the second quarter valued at approximately $702,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on IAC shares. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. JMP Securities reissued a “market outperform” rating and issued a $70.00 price target on shares of IAC in a research note on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. TD Cowen dropped their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Citigroup upped their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $67.67.

IAC Price Performance

Shares of IAC opened at $42.70 on Thursday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -99.30 and a beta of 1.32. 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 company’s fifty day simple moving average is $43.77 and its 200 day simple moving average is $48.59. IAC Inc. has a 1-year low of $39.61 and a 1-year high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) 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 the consensus estimate of $922.62 million. During the same period in the previous year, the company posted ($0.30) earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal 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.