IAC Inc. (NASDAQ:IAC) Stake Boosted by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 225.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,447 shares of the company's stock after buying an additional 14,158 shares during the period. Entropy Technologies LP's holdings in IAC were worth $882,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its stake in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company's stock valued at $53,000 after purchasing an additional 785 shares during the last quarter. GAMMA Investing LLC grew its position in shares of IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after acquiring an additional 492 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares during the period. KBC Group NV lifted its holdings in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after purchasing an additional 608 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of IAC during the third quarter worth $208,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Trading Down 2.1 %

Shares of NASDAQ IAC traded down $0.99 during midday trading on Friday, hitting $46.99. The stock had a trading volume of 2,032,766 shares, compared to its average volume of 825,209. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32. IAC Inc. has a 1-year low of $39.61 and a 1-year high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $43.10 and a 200 day moving average price of $48.21.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $922.62 million. During the same period last year, the business earned ($0.30) EPS. The firm's revenue was down 15.5% compared to the same quarter last year. On average, analysts predict that IAC Inc. will post -3.97 earnings per share for the current year.

Analysts Set New Price Targets

IAC has been the subject of a number of recent analyst reports. JMP Securities reduced their target price on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday. Piper Sandler downgraded IAC from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. KeyCorp reduced their target price on IAC from $66.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Truist Financial dropped their price target on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Barclays dropped their price target on IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $64.33.

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.