Stifel Financial Corp Lowers Stock Holdings in IAC Inc. (NASDAQ:IAC)

Stifel Financial Corp reduced its stake in shares of IAC Inc. (NASDAQ:IAC) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,482 shares of the company’s stock after selling 354 shares during the period. Stifel Financial Corp’s holdings in IAC were worth $1,910,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IAC. Greenwich Wealth Management LLC boosted its holdings in shares of IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after purchasing an additional 490 shares during the period. GAMMA Investing LLC increased its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in IAC by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock valued at $870,000 after buying an additional 553 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of IAC in a research note on Monday. UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Macquarie restated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research note on Thursday, November 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

IAC Stock Performance

Shares of IAC stock opened at $41.75 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC Inc. has a 1 year low of $41.08 and a 1 year high of $58.29. The firm’s 50-day simple moving average is $49.17 and its 200-day simple moving average is $49.86. The firm has a market cap of $3.36 billion, a PE ratio of -97.09 and a beta of 1.31.

IAC (NASDAQ:IAC) last announced its quarterly earnings data 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 firm had revenue of $938.70 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) EPS. Equities analysts forecast that IAC Inc. will post -3.97 earnings per share 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.