XTX Topco Ltd Acquires New Stake in IAC Inc. (NASDAQ:IAC)

XTX Topco Ltd acquired a new stake in shares of IAC Inc. (NASDAQ:IAC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,044 shares of the company’s stock, valued at approximately $658,000.

Several other large investors also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in IAC during the first quarter worth about $27,000. International Assets Investment Management LLC bought a new stake in IAC during the second quarter worth about $39,000. CWM LLC lifted its stake in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in IAC during the second quarter worth about $60,000. Finally, Geneos Wealth Management Inc. bought a new stake in IAC during the first quarter worth about $80,000. Institutional investors own 88.90% of the company’s stock.

IAC Stock Down 0.5 %

Shares of NASDAQ:IAC opened at $54.07 on Tuesday. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $58.29. The company has a market cap of $4.34 billion, a PE ratio of -34.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50-day moving average is $51.17 and its 200 day moving average is $50.58.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup dropped their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. JMP Securities assumed coverage on IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price for the company. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, August 27th. Finally, Barclays lowered their target price on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $76.40.

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.