Evergreen Capital Management LLC Purchases Shares of 4,449 IAC Inc. (NASDAQ:IAC)

Evergreen Capital Management LLC purchased a new stake in shares of IAC Inc. (NASDAQ:IAC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,449 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Freshford Capital Management LLC boosted its stake in IAC by 18.7% during the fourth quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock valued at $86,182,000 after buying an additional 259,000 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after purchasing an additional 79,951 shares in the last quarter. Whitebox Advisors LLC grew its stake in shares of IAC by 9.5% in the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock worth $74,812,000 after purchasing an additional 121,664 shares during the last quarter. Patient Capital Management LLC raised its holdings in shares of IAC by 7.7% in the 4th quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock worth $71,600,000 after purchasing an additional 97,938 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

Shares of NASDAQ IAC opened at $54.70 on Friday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -34.62 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 business has a fifty day simple moving average of $51.44 and a 200 day simple moving average of $50.66. IAC Inc. has a one year low of $41.39 and a one year high of $58.29.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on IAC shares. JMP Securities assumed coverage on shares of IAC in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price target on the stock. Citigroup decreased their target price on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. KeyCorp reduced their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Truist Financial increased their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

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.