Joel Isaacson & Co. LLC Purchases 359,327 Shares of IAC Inc. (NASDAQ:IAC)

Joel Isaacson & Co. LLC lifted its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 553.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 424,238 shares of the company's stock after acquiring an additional 359,327 shares during the period. IAC accounts for approximately 0.8% of Joel Isaacson & Co. LLC's holdings, making the stock its 21st biggest position. Joel Isaacson & Co. LLC owned approximately 0.53% of IAC worth $18,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IAC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company's stock worth $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp boosted its holdings in IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company's stock worth $127,027,000 after buying an additional 28,577 shares in the last quarter. Geode Capital Management LLC grew its position in IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company's stock worth $65,541,000 after buying an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock valued at $51,027,000 after buying an additional 52,271 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of IAC by 25.0% during the 3rd quarter. WCM Investment Management LLC now owns 379,556 shares of the company's stock valued at $20,762,000 after acquiring an additional 75,918 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on IAC. KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. UBS Group raised IAC to a "hold" rating in a research note on Monday, October 28th. JMP Securities reaffirmed a "market outperform" rating and set a $70.00 price objective on shares of IAC in a research note on Monday, December 16th. Macquarie reissued an "outperform" rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Finally, TD Cowen cut 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 investment analysts have rated the stock with a hold rating and ten have given 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 $67.67.

IAC Stock Up 5.8 %

IAC traded up $2.39 during trading on Wednesday, reaching $43.39. 2,769,411 shares of the stock traded hands, compared to its average volume of 746,995. The stock's 50-day simple moving average is $43.18 and its two-hundred day simple moving average is $48.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -100.90 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $938.70 million for 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%. The firm's quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. As a group, equities research analysts expect that IAC Inc. will post -3.97 EPS for the current year.

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.