Creative Planning Has $774,000 Position in IAC Inc. (NASDAQ:IAC)

Creative Planning lifted its holdings in shares of IAC Inc. (NASDAQ:IAC) by 55.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,380 shares of the company’s stock after purchasing an additional 5,145 shares during the quarter. Creative Planning’s holdings in IAC were worth $774,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in IAC by 32.1% in the 1st quarter. Principal Financial Group Inc. now owns 6,161 shares of the company’s stock valued at $329,000 after buying an additional 1,497 shares during the last quarter. Commonwealth Equity Services LLC raised its position in IAC by 14.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,367 shares of the company’s stock valued at $606,000 after buying an additional 1,461 shares during the last quarter. Capstone Investment Advisors LLC raised its position in IAC by 209.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 12,354 shares of the company’s stock valued at $659,000 after buying an additional 8,365 shares during the last quarter. FORA Capital LLC acquired a new stake in IAC in the 1st quarter valued at approximately $478,000. Finally, GSA Capital Partners LLP raised its position in IAC by 258.6% in the 1st quarter. GSA Capital Partners LLP now owns 51,434 shares of the company’s stock valued at $2,743,000 after buying an additional 37,089 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. KeyCorp dropped their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Barclays decreased their price target on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, August 27th. UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Finally, Truist Financial raised their price target on IAC from $87.00 to $88.00 and gave the company a “buy” rating 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. Based on data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

IAC Price Performance

Shares of NASDAQ IAC opened at $48.97 on Friday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12 month low of $42.79 and a 12 month high of $58.29. The stock has a 50 day moving average of $52.21 and a 200-day moving average of $50.73.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, August 6th. The company reported ($1.71) EPS 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 business had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. The business’s revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect 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.