IAC Inc. (NASDAQ:IAC) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of IAC Inc. (NASDAQ:IAC) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,200 shares of the company’s stock after selling 11,200 shares during the period. Swiss National Bank owned about 0.18% of IAC worth $7,599,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new stake in shares of IAC during the second quarter valued at about $1,649,000. Royce & Associates LP grew its stake in shares of IAC by 5.1% during the third quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after acquiring an additional 13,400 shares in the last quarter. Highbridge Capital Management LLC grew its stake in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock valued at $7,746,000 after acquiring an additional 68,291 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after acquiring an additional 79,951 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of IAC during the first quarter valued at about $11,460,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Price Performance

Shares of NASDAQ:IAC opened at $48.56 on Tuesday. IAC Inc. has a 12 month low of $43.51 and a 12 month high of $58.29. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -112.93 and a beta of 1.33. The stock’s 50 day moving average price is $51.59 and its 200 day moving average price is $50.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IAC shares. TD Cowen decreased their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Truist Financial decreased their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Finally, Macquarie reissued an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.36.

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.