IAC (NASDAQ:IAC) Releases Quarterly Earnings Results, Misses Expectations By $1.66 EPS

IAC (NASDAQ:IAC) released its quarterly earnings data on Tuesday. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66), FiscalAI reports. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The firm had revenue of $645.98 million for the quarter, compared to analyst estimates of $641.01 million.

IAC Stock Performance

NASDAQ IAC traded down $0.23 during trading on Tuesday, hitting $36.79. The company’s stock had a trading volume of 1,439,560 shares, compared to its average volume of 903,704. IAC has a 52 week low of $29.56 and a 52 week high of $50.49. The firm has a market cap of $2.64 billion, a P/E ratio of -13.48 and a beta of 1.12. The firm has a 50 day moving average price of $38.44 and a 200 day moving average price of $36.35. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On IAC

A number of institutional investors and hedge funds have recently bought and sold shares of IAC. AQR Capital Management LLC grew its position in IAC by 43.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company’s stock worth $39,122,000 after purchasing an additional 349,969 shares during the last quarter. Newtyn Management LLC lifted its stake in shares of IAC by 10.0% in the third quarter. Newtyn Management LLC now owns 1,100,000 shares of the company’s stock valued at $37,477,000 after buying an additional 100,000 shares during the period. Bank of America Corp DE grew its position in IAC by 47.1% during the second quarter. Bank of America Corp DE now owns 601,586 shares of the company’s stock worth $22,463,000 after buying an additional 192,743 shares in the last quarter. Northern Right Capital Management L.P. increased its stake in IAC by 89.0% during the second quarter. Northern Right Capital Management L.P. now owns 568,409 shares of the company’s stock valued at $21,224,000 after acquiring an additional 267,731 shares during the period. Finally, Gotham Asset Management LLC increased its stake in IAC by 51.7% during the third quarter. Gotham Asset Management LLC now owns 522,202 shares of the company’s stock valued at $17,791,000 after acquiring an additional 177,991 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IAC shares. KeyCorp cut their price objective on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, January 24th. Jefferies Financial Group lifted their price objective on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. UBS Group lowered their target price on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and an average target price of $46.67.

About IAC

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.