MML Investors Services LLC Purchases 973 Shares of IAC Inc. (NASDAQ:IAC)

MML Investors Services LLC boosted its position in IAC Inc. (NASDAQ:IAC) by 20.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,725 shares of the company’s stock after acquiring an additional 973 shares during the period. MML Investors Services LLC’s holdings in IAC were worth $308,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of IAC by 5,474.2% in the second 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 during the last quarter. DME Capital Management LP bought a new stake in shares of IAC in the 2nd quarter worth approximately $13,655,000. Bank of New York Mellon Corp increased its stake in shares of IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after buying an additional 282,304 shares during the period. Public Sector Pension Investment Board purchased a new position in shares of IAC during the second quarter valued at approximately $7,200,000. Finally, Marshall Wace LLP bought a new position in shares of IAC during the second quarter valued at approximately $5,644,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Down 0.1 %

Shares of NASDAQ:IAC opened at $42.57 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $48.76 and a two-hundred day simple moving average of $49.77. IAC Inc. has a 12-month low of $41.08 and a 12-month high of $58.29. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -99.00 and a beta of 1.31.

IAC (NASDAQ:IAC) last posted 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 company had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the firm earned ($0.30) EPS. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts anticipate that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAC has been the topic of several recent analyst reports. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 target price on shares of IAC in a research note on Monday, December 16th. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, November 12th. KeyCorp cut 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, November 20th. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

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.