IAC Inc. (NASDAQ:IAC) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp reduced its position in IAC Inc. (NASDAQ:IAC) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,095 shares of the company’s stock after selling 2,531 shares during the period. Heritage Investors Management Corp’s holdings in IAC were worth $5,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in IAC during the second quarter worth $39,000. GAMMA Investing LLC raised its position in IAC by 98.8% during the third 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. CWM LLC raised its position in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares during the period. 1620 Investment Advisors Inc. acquired a new position in IAC during the second quarter worth $60,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of IAC in the first quarter valued at about $80,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Trading Up 0.5 %

IAC stock traded up $0.27 during mid-day trading on Tuesday, hitting $49.71. 12,458 shares of the company were exchanged, compared to its average volume of 653,149. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.99 billion, a P/E ratio of -22.27 and a beta of 1.33. The business has a fifty day simple moving average of $52.16 and a 200-day simple moving average of $50.77. IAC Inc. has a 12-month low of $43.10 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last announced 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 company 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 company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.76) EPS. On average, equities research analysts predict that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAC has been the subject of a number of recent research reports. Barclays reduced 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. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. JMP Securities began coverage on shares of IAC in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price for the company. Truist Financial upped their price objective on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, KeyCorp dropped their price objective on shares of IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a 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. According to data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

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.