AlphaQuest LLC Purchases 37,896 Shares of IAC Inc. $IAC

AlphaQuest LLC boosted its position in shares of IAC Inc. (NASDAQ:IAC) by 1,127.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,257 shares of the company’s stock after acquiring an additional 37,896 shares during the period. AlphaQuest LLC owned 0.06% of IAC worth $1,406,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Helikon Investments Ltd bought a new stake in shares of IAC in the second quarter valued at about $76,056,000. JPMorgan Chase & Co. lifted its position in shares of IAC by 20.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after acquiring an additional 1,117,313 shares during the period. Burgundy Asset Management Ltd. grew its holdings in shares of IAC by 73.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,517,797 shares of the company’s stock worth $94,015,000 after purchasing an additional 1,069,044 shares in the last quarter. Norges Bank acquired a new stake in shares of IAC during the 2nd quarter worth approximately $31,025,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of IAC by 806.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 511,103 shares of the company’s stock valued at $19,872,000 after purchasing an additional 454,733 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on IAC shares. Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Benchmark dropped their price target on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group increased their price objective on IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. Finally, KeyCorp dropped their price objective on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.67.

IAC Stock Down 1.8%

Shares of IAC opened at $36.95 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56. The firm’s 50-day simple moving average is $38.36 and its 200 day simple moving average is $36.40. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The firm has a market cap of $2.65 billion, a P/E ratio of -13.53 and a beta of 1.10.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business had revenue of $589.79 million during the quarter, compared to analyst estimates of $601.86 million. During the same quarter in the previous year, the firm posted ($2.93) earnings per share. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. On average, analysts forecast that IAC Inc. will post 0.43 earnings per share for the current year.

IAC Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.