IAC Inc. (NASDAQ:IAC) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of IAC Inc. (NASDAQ:IAC) by 15.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,900 shares of the company’s stock after acquiring an additional 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in IAC were worth $910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IAC. Riverview Trust Co purchased a new position in IAC during the first quarter worth $27,000. International Assets Investment Management LLC purchased 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new position in IAC during the second quarter worth $60,000. Finally, Geneos Wealth Management Inc. purchased a new position in IAC during the first quarter worth $80,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on IAC. KeyCorp dropped their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Truist Financial lifted their price objective on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. JMP Securities began coverage on IAC in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective for the company. Finally, Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Price Performance

Shares of IAC stock opened at $52.81 on Friday. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The stock has a market capitalization of $4.24 billion, a P/E ratio of -33.42 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’s fifty day moving average price is $51.63 and its 200 day moving average price is $50.66.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. During the same quarter in the previous year, the business posted ($0.76) EPS. IAC’s revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that IAC Inc. will post -0.79 earnings per share for the current year.

IAC 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.