Edgestream Partners L.P. Buys 5,102 Shares of IAC Inc. (NASDAQ:IAC)

Edgestream Partners L.P. grew its position in shares of IAC Inc. (NASDAQ:IAC) by 47.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,877 shares of the company’s stock after purchasing an additional 5,102 shares during the period. Edgestream Partners L.P.’s holdings in IAC were worth $744,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IAC. Riverview Trust Co purchased a new position in IAC during the 1st quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new position in shares of IAC in the second quarter valued at $39,000. CWM LLC increased its position in IAC by 55.6% in 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. purchased a new stake in IAC during the second quarter valued at $60,000. Finally, Geneos Wealth Management Inc. bought a new position in IAC during the first quarter valued at $80,000. 88.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IAC. Barclays decreased 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. KeyCorp lowered their price objective 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 initiated coverage on IAC in a research report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 target price on the stock. Truist Financial raised their price target on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Citigroup cut their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Trading Down 0.5 %

IAC stock opened at $54.36 on Friday. The company has a market capitalization of $4.37 billion, a PE ratio of -34.41 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. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The firm’s 50-day moving average is $51.07 and its 200 day moving average is $50.57.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. During the same period in the prior year, the firm posted ($0.76) EPS. The business’s revenue was down 14.6% on a year-over-year basis. On average, research analysts anticipate that IAC Inc. will post -0.79 EPS for the current year.

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.