IAC Inc. (NASDAQ:IAC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in IAC Inc. (NASDAQ:IAC) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,970 shares of the company’s stock after purchasing an additional 1,320 shares during the period. Mackenzie Financial Corp’s holdings in IAC were worth $420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Treasurer of the State of North Carolina increased its holdings in shares of IAC by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock valued at $1,721,000 after buying an additional 320 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of IAC in the 4th quarter valued at $27,053,000. Freshford Capital Management LLC increased its stake in IAC by 18.7% in the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock worth $86,182,000 after purchasing an additional 259,000 shares in the last quarter. Garden State Investment Advisory Services LLC raised its holdings in IAC by 1.3% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock worth $786,000 after buying an additional 196 shares during the period. Finally, Patient Capital Management LLC lifted its stake in IAC by 7.7% during the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock valued at $71,600,000 after buying an additional 97,938 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

Shares of IAC opened at $51.68 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 firm has a market cap of $4.15 billion, a PE ratio of -32.71 and a beta of 1.32. The firm’s 50 day moving average price is $51.47 and its 200 day moving average price is $50.67. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IAC. Barclays dropped their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. JMP Securities initiated coverage on shares of IAC in a research note on Tuesday, July 9th. They set an “outperform” rating and a $78.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Citigroup dropped their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial raised their price objective on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.