Franklin Resources Inc. Has $577,000 Position in IAC Inc. (NASDAQ:IAC)

Franklin Resources Inc. grew its holdings in IAC Inc. (NASDAQ:IAC) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,896 shares of the company’s stock after acquiring an additional 686 shares during the period. Franklin Resources Inc.’s holdings in IAC were worth $577,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Greenwich Wealth Management LLC increased its position in IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after buying an additional 284 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of IAC by 2.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after buying an additional 405 shares during the period. Victory Capital Management Inc. grew its stake in IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after buying an additional 490 shares during the last quarter. GAMMA Investing LLC raised its holdings in IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in IAC by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock worth $870,000 after acquiring an additional 553 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IAC. TD Cowen lowered their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays cut their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Finally, UBS Group upgraded IAC to a “hold” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, IAC has an average rating of “Moderate Buy” and an average price target of $68.33.

IAC Trading Down 0.9 %

IAC stock opened at $42.73 on Tuesday. The company has a 50 day moving average price of $47.70 and a 200 day moving average price of $49.54. IAC Inc. has a fifty-two week low of $41.08 and a fifty-two week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. Equities research analysts anticipate that IAC Inc. will post -3.97 earnings per share for the current fiscal 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.