Atria Investments Inc Grows Stake in IAC Inc. (NASDAQ:IAC)

Atria Investments Inc lifted its stake in shares of IAC Inc. (NASDAQ:IAC) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,444 shares of the company’s stock after purchasing an additional 743 shares during the period. Atria Investments Inc’s holdings in IAC were worth $293,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC grew its stake in IAC by 5.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after buying an additional 79,951 shares in the last quarter. Whitebox Advisors LLC grew its position in shares of IAC by 9.5% in the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after purchasing an additional 121,664 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the period. Principal Financial Group Inc. lifted its holdings in IAC by 5,474.2% during the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after purchasing an additional 337,268 shares in the last quarter. Finally, DME Capital Management LP purchased a new stake in IAC during the 2nd quarter worth about $13,655,000. Institutional investors own 88.90% of the company’s stock.

IAC Stock Up 1.6 %

IAC stock opened at $48.47 on Friday. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -112.72 and a beta of 1.33. The business’s 50 day moving average price is $51.67 and its two-hundred day moving average price is $50.72. 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 (NASDAQ:IAC) last issued its quarterly earnings results 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). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue was down 15.5% compared to the same quarter last year. As a group, analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. TD Cowen reduced their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Barclays lowered their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, KeyCorp lowered their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

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.