Empirical Asset Management LLC Takes Position in IAC Inc. (NASDAQ:IAC)

Empirical Asset Management LLC acquired a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 180,673 shares of the company's stock, valued at approximately $7,794,000. Empirical Asset Management LLC owned approximately 0.22% of IAC as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock valued at $53,000 after acquiring an additional 492 shares in the last quarter. Quarry LP boosted its position in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company's stock valued at $53,000 after purchasing an additional 785 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in IAC in the second quarter valued at about $208,000. Clear Harbor Asset Management LLC bought a new position in IAC in the third quarter worth about $208,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in IAC in the third quarter worth about $209,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Performance

Shares of IAC stock traded down $0.55 during mid-day trading on Friday, reaching $42.30. The stock had a trading volume of 731,828 shares, compared to its average volume of 727,112. IAC Inc. has a 1-year low of $39.61 and a 1-year high of $58.29. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -98.37 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The business's fifty day moving average is $45.41 and its 200-day moving average is $49.11.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million during the quarter, compared to analysts' expectations of $922.62 million. During the same quarter in the prior year, the company earned ($0.30) EPS. IAC's quarterly revenue was down 15.5% on a year-over-year basis. On average, research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IAC shares. Piper Sandler downgraded shares of IAC from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Benchmark reaffirmed a "buy" rating and issued a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. TD Cowen reduced their price target on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. JMP Securities reissued a "market outperform" rating and issued a $70.00 price objective on shares of IAC in a research report on Monday, December 16th. Finally, Barclays dropped their target price on IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.50.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.