Raymond James & Associates Has $2.60 Million Stock Position in IAC Inc. (NASDAQ:IAC)

Raymond James & Associates grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,353 shares of the company’s stock after buying an additional 3,471 shares during the quarter. Raymond James & Associates owned 0.06% of IAC worth $2,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IAC. Thompson Siegel & Walmsley LLC lifted its stake in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after buying an additional 79,951 shares in the last quarter. Whitebox Advisors LLC grew its holdings in shares of IAC by 9.5% during the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after purchasing an additional 121,664 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after purchasing an additional 282,304 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of IAC by 5,474.2% during the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after purchasing an additional 337,268 shares during the last quarter. Finally, DME Capital Management LP bought a new stake in IAC in the 2nd quarter worth $13,655,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on IAC. Barclays dropped their target price on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. JMP Securities initiated coverage on shares of IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price for the company. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, August 27th. Finally, KeyCorp cut their target price 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’s stock. Based on data from MarketBeat, IAC has an average rating of “Moderate Buy” and an average price target of $76.40.

IAC Price Performance

Shares of NASDAQ:IAC opened at $50.98 on Wednesday. The company has a market cap of $4.10 billion, a PE ratio of -22.96 and a beta of 1.33. IAC Inc. has a twelve month low of $43.10 and a twelve month high of $58.29. The company’s 50 day moving average is $52.14 and its 200 day moving average is $50.79. 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 quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $942.77 million. During the same period in the prior year, the business posted ($0.76) EPS. IAC’s revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that IAC Inc. will post -0.79 EPS for the current year.

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.