Robeco Institutional Asset Management B.V. Buys Shares of 14,072 IAC Inc. $IAC

Robeco Institutional Asset Management B.V. purchased a new position in shares of IAC Inc. (NASDAQ:IAC) during the third quarter, HoldingsChannel.com reports. The fund purchased 14,072 shares of the company’s stock, valued at approximately $479,000.

Several other institutional investors have also modified their holdings of IAC. Quantbot Technologies LP acquired a new stake in shares of IAC in the 2nd quarter valued at about $2,924,000. Levin Capital Strategies L.P. grew its holdings in shares of IAC by 503.3% during the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock worth $16,077,000 after buying an additional 359,180 shares in the last quarter. Permanent Capital Management LP acquired a new stake in IAC in the 3rd quarter valued at approximately $1,732,000. JPMorgan Chase & Co. boosted its position in IAC by 20.5% during 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 last quarter. Finally, Strs Ohio bought a new position in shares of IAC during the 1st quarter worth approximately $1,291,000. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of NASDAQ IAC opened at $39.64 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $36.61 and its two-hundred day moving average price is $36.39. The company has a market cap of $2.84 billion, a PE ratio of -14.52 and a beta of 1.10. IAC Inc. has a twelve month low of $29.56 and a twelve month high of $50.49.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on IAC shares. Jefferies Financial Group boosted their price objective on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Benchmark cut their price target on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Truist Financial reduced their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen downgraded IAC from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Finally, UBS Group reduced their price target on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock 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.