Swiss National Bank Sells 11,200 Shares of IAC Inc. (NASDAQ:IAC)

Swiss National Bank lessened its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,200 shares of the company's stock after selling 11,200 shares during the period. Swiss National Bank owned about 0.18% of IAC worth $7,599,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of IAC in the 2nd quarter valued at about $39,000. GAMMA Investing LLC increased its position in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after buying an additional 492 shares during the last quarter. CWM LLC lifted its position in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after buying an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of IAC in the 2nd quarter valued at approximately $60,000. Finally, Innealta Capital LLC bought a new stake in IAC during the second quarter worth approximately $146,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Price Performance

IAC stock traded down $0.80 during trading on Tuesday, hitting $47.76. The company had a trading volume of 458,520 shares, compared to its average volume of 666,853. 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 company has a fifty day moving average price of $51.59 and a two-hundred day moving average price of $50.60. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The company has a market cap of $3.84 billion, a P/E ratio of -112.93 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen reduced their price objective on shares of IAC from $82.00 to $77.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Barclays cut their price target on IAC from $70.00 to $66.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Macquarie reaffirmed an "outperform" rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Truist Financial dropped their price objective on shares of IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.36.

About IAC

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.