Maven Securities LTD Reduces Stock Holdings in IAC Inc. (NASDAQ:IAC)

Maven Securities LTD trimmed its stake in IAC Inc. (NASDAQ:IAC) by 36.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,547 shares of the company’s stock after selling 14,927 shares during the quarter. Maven Securities LTD’s holdings in IAC were worth $1,197,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Riverview Trust Co purchased a new position in IAC in the 1st quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in shares of IAC in the second quarter worth $39,000. CWM LLC lifted its stake in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares during the period. 1620 Investment Advisors Inc. bought a new position in IAC during the 2nd quarter valued at $60,000. Finally, Geneos Wealth Management Inc. bought a new stake in IAC in the first quarter worth about $80,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IAC has been the subject of several research analyst reports. Truist Financial upped their price target on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays decreased their target price on IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Citigroup decreased their target price 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. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Finally, KeyCorp lowered their price target on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average price target of $76.40.

IAC Trading Down 4.0 %

IAC opened at $51.66 on Wednesday. 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 1-year low of $41.39 and a 1-year high of $58.29. The company has a fifty day moving average price of $51.44 and a two-hundred day moving average price of $50.67. The company has a market cap of $4.15 billion, a P/E ratio of -32.70 and a beta of 1.32.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The company had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) EPS. Analysts predict that IAC Inc. will post -0.79 EPS for the current fiscal 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.