Harspring Capital Management LLC Sells 150,000 Shares of IAC Inc. (NASDAQ:IAC)

Harspring Capital Management LLC reduced its position in IAC Inc. (NASDAQ:IAC) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 710,000 shares of the company’s stock after selling 150,000 shares during the quarter. IAC makes up approximately 8.4% of Harspring Capital Management LLC’s portfolio, making the stock its 5th biggest position. Harspring Capital Management LLC owned 0.88% of IAC worth $33,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new stake in shares of IAC during the second quarter worth $2,717,000. XTX Topco Ltd purchased a new stake in IAC during the 2nd quarter worth about $658,000. Highbridge Capital Management LLC raised its position in IAC by 70.4% in the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock valued at $7,746,000 after purchasing an additional 68,291 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of IAC in the 2nd quarter valued at about $312,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of IAC by 19.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,021 shares of the company’s stock worth $329,000 after buying an additional 1,133 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Trading Down 0.5 %

NASDAQ:IAC 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. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $58.29. The stock’s 50 day moving average price is $51.07 and its 200 day moving average price is $50.57. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.76) earnings per share. On average, research analysts anticipate that IAC Inc. will post -0.79 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IAC. KeyCorp decreased their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Citigroup dropped their target price on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays decreased their price target on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, JMP Securities started coverage on IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective on the stock. Two 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 stock currently has an average rating of “Moderate Buy” and an average 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.