Regal Partners Ltd Sells 54,708 Shares of IAC Inc. (NASDAQ:IAC)

Regal Partners Ltd lessened its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 191,917 shares of the company's stock after selling 54,708 shares during the period. IAC accounts for 0.9% of Regal Partners Ltd's holdings, making the stock its 25th biggest holding. Regal Partners Ltd owned about 0.24% of IAC worth $8,991,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in IAC during the 4th quarter worth approximately $39,426,000. Segantii Capital Management Ltd purchased a new position in shares of IAC during the 4th quarter valued at about $2,881,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of IAC by 12.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company's stock worth $11,483,000 after buying an additional 24,589 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of IAC during the first quarter worth about $575,000. Finally, Patient Capital Management LLC lifted its holdings in IAC by 7.7% in the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company's stock worth $71,600,000 after buying an additional 97,938 shares during the period. Institutional investors own 88.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays decreased their price target on IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. KeyCorp dropped their price target on IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, August 16th. Truist Financial lifted their price target on IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. JMP Securities began coverage on shares of IAC in a research report on Tuesday, July 9th. They issued an "outperform" rating and a $78.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of IAC from $82.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.40.

IAC Trading Up 0.8 %

Shares of NASDAQ IAC traded up $0.41 during trading on Wednesday, hitting $51.75. 355,077 shares of the company traded hands, compared to its average volume of 701,586. The company has a 50-day moving average price of $49.86 and a 200-day moving average price of $50.91. The firm has a market capitalization of $4.16 billion, a P/E ratio of -32.75 and a beta of 1.32. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The business had revenue of $949.50 million for the quarter, compared to analysts' expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The firm's revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.76) earnings per share. On average, equities analysts predict that IAC Inc. will post -0.79 EPS for the current year.

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.