KBC Group NV Sells 25,592 Shares of IAC Inc. (NASDAQ:IAC)

KBC Group NV lessened its position in IAC Inc. (NASDAQ:IAC) by 90.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,670 shares of the company’s stock after selling 25,592 shares during the period. KBC Group NV’s holdings in IAC were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after buying an additional 337,268 shares during the last quarter. DME Capital Management LP purchased a new position in shares of IAC during the second quarter valued at approximately $13,655,000. Bank of New York Mellon Corp lifted its position 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 period. Swedbank AB purchased a new stake in IAC in the first quarter worth approximately $11,460,000. Finally, Public Sector Pension Investment Board bought a new stake in IAC in the 2nd quarter worth approximately $7,200,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

IAC has been the subject of a number of recent research reports. Benchmark restated a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Macquarie restated an “outperform” rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Citigroup cut their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

IAC Stock Up 0.1 %

Shares of NASDAQ:IAC opened at $47.77 on Friday. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -111.09 and a beta of 1.33. IAC Inc. has a 12 month low of $43.51 and a 12 month high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $51.75 and a 200 day moving average price of $50.77.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The company’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. As a group, equities research analysts predict that IAC Inc. will post -3.97 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.