IAC Inc. $IAC Stake Raised by Yakira Capital Management Inc.

Yakira Capital Management Inc. increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 24.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 223,078 shares of the company’s stock after acquiring an additional 44,267 shares during the period. IAC makes up about 2.7% of Yakira Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Yakira Capital Management Inc. owned 0.31% of IAC worth $7,600,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in IAC by 2.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after purchasing an additional 300 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of IAC by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock valued at $2,854,000 after buying an additional 410 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of IAC by 3.3% in the third quarter. Nisa Investment Advisors LLC now owns 15,182 shares of the company’s stock valued at $517,000 after buying an additional 482 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of IAC by 2.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company’s stock worth $1,060,000 after buying an additional 700 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of IAC by 9.8% during the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Down 2.2%

Shares of IAC opened at $37.87 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. IAC Inc. has a one year low of $29.56 and a one year high of $50.49. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -28.47 and a beta of 1.09. The stock has a 50 day moving average price of $37.85 and a 200 day moving average price of $36.16.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IAC. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a research note on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Jefferies Financial Group lifted their target price on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.62.

IAC Company 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.