IAC Inc. (NASDAQ:IAC) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. lowered its stake in IAC Inc. (NASDAQ:IAC) by 55.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,193 shares of the company’s stock after selling 14,990 shares during the period. Centaurus Financial Inc.’s holdings in IAC were worth $571,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of IAC in the second quarter valued at approximately $702,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of IAC by 26.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 290,267 shares of the company’s stock valued at $13,600,000 after purchasing an additional 60,875 shares during the period. Algert Global LLC acquired a new position in shares of IAC in the second quarter valued at approximately $366,000. Scientech Research LLC grew its holdings in IAC by 184.0% during the second quarter. Scientech Research LLC now owns 16,930 shares of the company’s stock worth $793,000 after acquiring an additional 10,969 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in IAC by 17.3% during the second quarter. Mackenzie Financial Corp now owns 8,970 shares of the company’s stock worth $420,000 after acquiring an additional 1,320 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IAC shares. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, August 27th. Truist Financial upped their price objective on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Citigroup dropped their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, JMP Securities initiated coverage on IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $76.40.

IAC Stock Performance

NASDAQ IAC opened at $51.68 on Friday. The business’s 50-day moving average price is $51.47 and its 200 day moving average price is $50.68. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company has a market capitalization of $4.15 billion, a PE ratio of -32.71 and a beta of 1.32. 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 (NASDAQ:IAC) last released its 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). The business 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 business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) earnings per share. On average, research analysts predict that IAC Inc. will post -0.79 earnings per share for the current year.

About IAC

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.