Geode Capital Management LLC Raises Stock Holdings in IAC Inc. (NASDAQ:IAC)

Geode Capital Management LLC increased its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,217,480 shares of the company's stock after acquiring an additional 25,909 shares during the quarter. Geode Capital Management LLC owned about 1.51% of IAC worth $65,541,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of IAC in the second quarter worth about $39,000. GAMMA Investing LLC boosted its holdings in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after acquiring an additional 492 shares in the last quarter. Quarry LP increased its stake in IAC by 408.9% during the 3rd 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. Innealta Capital LLC purchased a new position in IAC in the 2nd quarter worth $146,000. Finally, Evergreen Capital Management LLC purchased a new stake in IAC in the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Up 1.3 %

Shares of IAC traded up $0.53 during midday trading on Friday, hitting $42.28. The company had a trading volume of 2,186,270 shares, compared to its average volume of 671,408. IAC Inc. has a 1 year low of $41.08 and a 1 year high of $58.29. The company's 50-day simple moving average is $48.96 and its 200-day simple moving average is $49.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a market capitalization of $3.40 billion, a P/E ratio of -98.32 and a beta of 1.31.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC's revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) earnings per share. As a group, sell-side analysts expect that IAC Inc. will post -3.97 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Macquarie reaffirmed an "outperform" rating and set a $14.00 price target on shares of IAC in a research report on Thursday, November 14th. JMP Securities reissued a "market outperform" rating and set a $70.00 target price on shares of IAC in a research note on Monday, December 16th. Truist Financial decreased their price target on shares of IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Piper Sandler lowered IAC from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Finally, KeyCorp cut their target price on IAC from $66.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.33.

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.