IAC Inc. (NASDAQ:IAC) Stake Lessened by KBC Group NV

KBC Group NV trimmed its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 90.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,670 shares of the company's stock after selling 25,592 shares during the period. KBC Group NV's holdings in IAC were worth $144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock valued at $16,090,000 after buying an additional 337,268 shares during the last quarter. DME Capital Management LP purchased a new position in IAC in the 2nd quarter valued at about $13,655,000. Bank of New York Mellon Corp boosted its position in IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company's stock valued at $24,891,000 after buying an additional 282,304 shares during the last quarter. Swedbank AB purchased a new position in IAC in the 1st quarter valued at about $11,460,000. Finally, Public Sector Pension Investment Board purchased a new position in IAC in the 2nd quarter valued at about $7,200,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Performance

Shares of NASDAQ:IAC traded up $1.02 during trading hours on Friday, hitting $48.75. The stock had a trading volume of 310,605 shares, compared to its average volume of 664,545. The stock's fifty day simple moving average is $51.75 and its 200 day simple moving average is $50.77. IAC Inc. has a 1-year low of $43.51 and a 1-year high of $58.29. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -111.09 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) 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 quarter in the previous year, the business posted ($0.30) EPS. IAC's revenue for the quarter was down 15.5% compared to the same quarter last year. Sell-side analysts anticipate that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IAC has been the topic of a number of recent analyst reports. Benchmark restated a "buy" rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Barclays cut their target price on shares of IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. KeyCorp cut their target price on shares of IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, TD Cowen cut their target price on shares of IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $70.36.

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.