Free Trial

JPMorgan Chase & Co. Cuts Stake in IAC Inc. (NASDAQ:IAC)

IAC logo with Multi-Sector Conglomerates background

JPMorgan Chase & Co. lowered its position in IAC Inc. (NASDAQ:IAC - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,630,276 shares of the company's stock after selling 273,776 shares during the quarter. JPMorgan Chase & Co. owned about 7.00% of IAC worth $303,021,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its holdings in shares of IAC by 581.3% in the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company's stock worth $5,291,000 after acquiring an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock worth $51,027,000 after purchasing an additional 52,271 shares during the period. Royce & Associates LP grew its holdings in IAC by 5.1% during the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company's stock valued at $14,999,000 after buying an additional 13,400 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company's stock valued at $7,746,000 after buying an additional 68,291 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of IAC by 5.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company's stock worth $76,527,000 after buying an additional 79,951 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

NASDAQ:IAC traded down $0.40 during mid-day trading on Monday, reaching $42.73. 832,986 shares of the company's stock traded hands, compared to its average volume of 600,658. The company has a 50 day moving average price of $47.70 and a 200-day moving average price of $49.54. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12-month low of $41.08 and a 12-month high of $58.29.

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 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 company had revenue of $938.70 million for the quarter, compared to analysts' expectations of $922.62 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. The firm's revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, research analysts anticipate that IAC Inc. will post -3.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IAC shares. KeyCorp dropped their price objective on IAC from $66.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. UBS Group upgraded IAC to a "hold" rating in a research report on Monday, October 28th. Barclays decreased their price objective on shares of IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 13th. Piper Sandler lowered shares of IAC from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Finally, TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a report 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 MarketBeat, IAC has a consensus rating of "Moderate Buy" and an average target price of $68.33.

Read Our Latest Analysis on IAC

IAC Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

Should You Invest $1,000 in IAC Right Now?

Before you consider IAC, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IAC wasn't on the list.

While IAC currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Crypto Boom 2025: Bitcoin’s Rise and Trump’s Impact on the Market
Goldman Sachs’ 2025 Market Outlook: Top 3 Stock Picks
7 Stocks to Benefit From Trump’s Tariffs in 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines