Allen Holding Inc. NY Has $28.16 Million Stock Position in IAC Inc. (NASDAQ:IAC)

Allen Holding Inc. NY cut its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 22.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 578,100 shares of the company's stock after selling 171,900 shares during the quarter. IAC comprises 3.6% of Allen Holding Inc. NY's portfolio, making the stock its 5th biggest holding. Allen Holding Inc. NY owned 0.72% of IAC worth $28,162,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IAC. Garden State Investment Advisory Services LLC grew its holdings in IAC by 1.3% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company's stock valued at $786,000 after buying an additional 196 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in IAC by 0.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company's stock valued at $2,192,000 after buying an additional 260 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in IAC by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company's stock valued at $1,721,000 after buying an additional 320 shares in the last quarter. CWM LLC grew its holdings in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after buying an additional 408 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in IAC in the 1st quarter valued at $27,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

Shares of IAC stock traded up $0.94 on Friday, hitting $52.24. 370,417 shares of the company's stock were exchanged, compared to its average volume of 691,729. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The stock has a market cap of $4.20 billion, a P/E ratio of -33.06 and a beta of 1.32. The company has a 50 day moving average of $50.48 and a 200 day moving average of $50.61.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IAC. Citigroup decreased their price objective on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. JMP Securities initiated coverage on IAC in a research report on Tuesday, July 9th. They set an "outperform" rating and a $78.00 target price for the company. StockNews.com downgraded IAC from a "buy" rating to a "hold" rating in a research report on Saturday, May 18th. Benchmark reiterated a "buy" rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Finally, Barclays cut their target price on IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.40.

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.