13,762 Shares in IAC Inc. (NASDAQ:IAC) Acquired by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. acquired a new position in IAC Inc. (NASDAQ:IAC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,762 shares of the company’s stock, valued at approximately $741,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new stake in IAC in the first quarter worth approximately $575,000. Louisiana State Employees Retirement System bought a new stake in IAC in the second quarter worth approximately $1,649,000. Thompson Siegel & Walmsley LLC increased its holdings in IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares in the last quarter. Highbridge Capital Management LLC increased its holdings in IAC by 70.4% in the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after purchasing an additional 68,291 shares in the last quarter. Finally, Swedbank AB bought a new stake in IAC in the first quarter worth approximately $11,460,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAC has been the subject of a number of research analyst reports. KeyCorp lowered 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. Barclays decreased their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. JMP Securities started coverage on IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price objective for the company. Citigroup decreased their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a 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 research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Trading Down 0.5 %

NASDAQ IAC opened at $51.74 on Friday. The firm has a market capitalization of $4.15 billion, a P/E ratio of -32.74 and a beta of 1.32. The business has a fifty day simple moving average of $52.34 and a 200 day simple moving average of $50.68. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last released its quarterly 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). The company had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.76) earnings per share. On average, analysts predict that IAC Inc. will post -0.79 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.