QRG Capital Management Inc. Has $1.71 Million Stake in IAC Inc. (NASDAQ:IAC)

QRG Capital Management Inc. raised its position in IAC Inc. (NASDAQ:IAC) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,820 shares of the company’s stock after acquiring an additional 4,581 shares during the quarter. QRG Capital Management Inc.’s holdings in IAC were worth $1,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of IAC during the 2nd quarter worth approximately $39,000. GAMMA Investing LLC increased its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares during the last quarter. CWM LLC raised its position in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC during the 2nd quarter worth about $60,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of IAC during the 1st quarter worth about $80,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the topic of several research analyst reports. Barclays lowered their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. KeyCorp dropped their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Finally, Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.40.

IAC Stock Up 2.1 %

Shares of NASDAQ IAC opened at $54.37 on Friday. The stock has a market capitalization of $4.37 billion, a P/E ratio of -24.49 and a beta of 1.33. The stock’s fifty day moving average is $52.18 and its 200 day moving average is $50.80. IAC Inc. has a 52 week low of $43.10 and a 52 week high of $58.29. 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 released its earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The firm had revenue of $949.50 million during the quarter, compared to the consensus estimate of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. IAC’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) earnings per share. Sell-side analysts forecast that IAC Inc. will post -0.79 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.