IAC Inc. $IAC Stake Boosted by Highbridge Capital Management LLC

Highbridge Capital Management LLC grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 68.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 484,325 shares of the company’s stock after purchasing an additional 197,590 shares during the period. Highbridge Capital Management LLC owned 0.68% of IAC worth $16,501,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of IAC in the second quarter worth $2,924,000. Permanent Capital Management LP bought a new position in shares of IAC in the third quarter valued at $1,732,000. Levin Capital Strategies L.P. lifted 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 valued at $16,077,000 after purchasing an additional 359,180 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of IAC by 1,127.5% in the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after buying an additional 37,896 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in IAC by 20.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after purchasing an additional 1,117,313 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. KeyCorp reduced their price objective on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Oppenheimer lowered shares of IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Wall Street Zen lowered IAC from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Finally, Benchmark lowered their price target on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $46.83.

IAC Stock Up 2.4%

Shares of NASDAQ IAC opened at $37.40 on Friday. The business has a fifty day moving average of $38.27 and a two-hundred day moving average of $35.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.75. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49. The stock has a market cap of $2.68 billion, a PE ratio of -28.12 and a beta of 1.12.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). The firm had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company’s revenue for the quarter was down 34.7% on a year-over-year basis. During the same period in the prior year, the business earned ($2.39) earnings per share. As a group, equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal 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.