IAC Inc. (NASDAQ:IAC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in IAC Inc. (NASDAQ:IAC) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,686 shares of the company’s stock after buying an additional 490 shares during the quarter. Victory Capital Management Inc.’s holdings in IAC were worth $1,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after buying an additional 337,268 shares during the last quarter. DME Capital Management LP bought a new stake in shares of IAC in the 2nd quarter worth approximately $13,655,000. Bank of New York Mellon Corp boosted its stake 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 worth $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Swedbank AB purchased a new position in IAC in the 1st quarter worth about $11,460,000. Finally, Public Sector Pension Investment Board purchased a new stake in shares of IAC in the 2nd quarter valued at approximately $7,200,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen lowered their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays decreased their target price on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. Citigroup dropped their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, UBS Group upgraded IAC to a “hold” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.36.

IAC Price Performance

IAC stock opened at $48.47 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.90 billion, a P/E ratio of -112.72 and a beta of 1.33. The business has a 50-day moving average of $51.67 and a 200-day moving average of $50.65. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.30) EPS. On average, equities analysts anticipate that IAC Inc. will post -3.97 EPS 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.