XTX Topco Ltd Invests $658,000 in IAC Inc. (NASDAQ:IAC)

XTX Topco Ltd purchased a new position in IAC Inc. (NASDAQ:IAC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,044 shares of the company’s stock, valued at approximately $658,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Garden State Investment Advisory Services LLC lifted its position in IAC by 1.3% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock valued at $786,000 after acquiring an additional 196 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in IAC by 0.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock valued at $2,192,000 after acquiring an additional 260 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after acquiring an additional 284 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in IAC by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock valued at $1,721,000 after acquiring an additional 320 shares in the last quarter. Finally, CWM LLC lifted its position in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IAC has been the topic of several analyst reports. Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Barclays lowered their price target on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $110.00 price target on shares of IAC in a report on Tuesday, August 27th. Finally, JMP Securities began coverage on IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Price Performance

Shares of IAC stock opened at $54.07 on Tuesday. IAC Inc. has a one year low of $41.39 and a one year high of $58.29. The stock’s fifty day moving average is $51.17 and its 200 day moving average is $50.58. The stock has a market cap of $4.34 billion, a P/E ratio of -34.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company had revenue of $949.50 million during the quarter, compared to the consensus estimate of $942.77 million. During the same period in the prior year, the business posted ($0.76) earnings per share. IAC’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts anticipate that IAC Inc. will post -0.79 earnings per share for the current 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.