Vanguard Group Inc. Sells 359,230 Shares of IAC Inc. $IAC

Vanguard Group Inc. cut its holdings in IAC Inc. (NASDAQ:IAC) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,921,604 shares of the company’s stock after selling 359,230 shares during the period. Vanguard Group Inc. owned about 0.10% of IAC worth $270,635,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of IAC by 45.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 12,950 shares of the company’s stock worth $506,000 after buying an additional 4,033 shares during the last quarter. Optas LLC bought a new stake in shares of IAC in the 4th quarter worth about $221,000. Autumn Glory Partners LLC grew its holdings in IAC by 33.6% during the 4th quarter. Autumn Glory Partners LLC now owns 13,325 shares of the company’s stock valued at $521,000 after purchasing an additional 3,350 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IAC by 11.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,888 shares of the company’s stock valued at $739,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Friedenthal Financial bought a new position in IAC during the 4th quarter valued at about $1,015,000. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

Shares of IAC stock opened at $44.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.69 and a quick ratio of 2.75. The company has a market capitalization of $3.02 billion, a P/E ratio of 119.08 and a beta of 1.03. The company’s 50-day simple moving average is $40.37 and its two-hundred day simple moving average is $37.82. IAC Inc. has a one year low of $29.56 and a one year high of $45.82.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). IAC had a net margin of 1.82% and a return on equity of 2.29%. The business had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. During the same quarter in the prior year, the business posted ($2.39) earnings per share. IAC’s revenue for the quarter was down 34.7% on a year-over-year basis. As a group, equities analysts anticipate that IAC Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on IAC. Piper Sandler set a $52.00 price target on shares of IAC in a report on Thursday. KeyCorp upped their price target on shares of IAC from $41.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of IAC from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday. Benchmark upped their price target on shares of IAC from $57.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group upped their price target on shares of IAC from $48.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.14.

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.