IAC Inc. (NASDAQ:IAC) Shares Sold by Investidor Profissional Gestao de Recursos Ltda.

Investidor Profissional Gestao de Recursos Ltda. lowered its stake in shares of IAC Inc. (NASDAQ:IAC) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,453 shares of the company’s stock after selling 9,079 shares during the quarter. IAC comprises approximately 1.9% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its 9th largest holding. Investidor Profissional Gestao de Recursos Ltda. owned about 0.11% of IAC worth $4,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in IAC during the 1st quarter valued at about $27,000. International Assets Investment Management LLC purchased a new stake in IAC in the second quarter valued at approximately $39,000. CWM LLC increased its holdings in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. 1620 Investment Advisors Inc. purchased a new position in IAC during the 2nd quarter worth approximately $60,000. Finally, Geneos Wealth Management Inc. acquired a new stake in IAC during the 1st quarter valued at approximately $80,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, August 27th. Citigroup lowered their target price on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial lifted their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp lowered their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.40.

IAC Stock Performance

NASDAQ:IAC opened at $54.36 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $4.37 billion, a PE ratio of -34.41 and a beta of 1.32. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $58.29. The company has a fifty day moving average of $51.07 and a two-hundred day moving average of $50.58.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. During the same quarter last year, the company earned ($0.76) EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, research analysts forecast that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

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.