ArrowMark Colorado Holdings LLC Reduces Stock Position in IAC Inc. (NASDAQ:IAC)

ArrowMark Colorado Holdings LLC cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,585,544 shares of the company’s stock after selling 129,408 shares during the period. IAC accounts for about 1.1% of ArrowMark Colorado Holdings LLC’s portfolio, making the stock its 27th biggest position. ArrowMark Colorado Holdings LLC’s holdings in IAC were worth $85,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Comerica Bank boosted its stake in shares of IAC by 52.7% during the first quarter. Comerica Bank now owns 10,929 shares of the company’s stock valued at $583,000 after purchasing an additional 3,772 shares during the period. CWM LLC increased its stake in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the period. Parkside Investments LLC increased its position in IAC by 2.3% during the 2nd quarter. Parkside Investments LLC now owns 209,499 shares of the company’s stock valued at $9,815,000 after purchasing an additional 4,645 shares during the period. QRG Capital Management Inc. raised its holdings in shares of IAC by 8.2% in the 2nd quarter. QRG Capital Management Inc. now owns 27,239 shares of the company’s stock valued at $1,276,000 after purchasing an additional 2,073 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in IAC during the second quarter worth $312,000. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

NASDAQ IAC opened at $47.33 on Monday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -110.07 and a beta of 1.33. IAC Inc. has a twelve month low of $43.51 and a twelve month high of $58.29. The stock has a 50-day moving average of $51.04 and a 200 day moving average of $50.34. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings data 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 company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Sell-side analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IAC. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. KeyCorp decreased their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Citigroup reduced their target price on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.36.

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.