Thompson Siegel & Walmsley LLC Raises Position in IAC Inc. (NASDAQ:IAC)

Thompson Siegel & Walmsley LLC increased its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,633,452 shares of the company's stock after purchasing an additional 79,951 shares during the quarter. IAC accounts for 1.2% of Thompson Siegel & Walmsley LLC's holdings, making the stock its 20th biggest holding. Thompson Siegel & Walmsley LLC owned approximately 2.03% of IAC worth $76,527,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of IAC. Norges Bank bought a new stake in shares of IAC during the fourth quarter valued at approximately $39,426,000. Teachers Retirement System of The State of Kentucky raised its position in IAC by 12.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company's stock valued at $11,483,000 after purchasing an additional 24,589 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of IAC in the 1st quarter worth $575,000. Patient Capital Management LLC lifted its holdings in shares of IAC by 7.7% in the 4th 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. Finally, Louisiana State Employees Retirement System bought a new position in shares of IAC during the 2nd quarter worth $1,649,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays reduced their price target on IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. JMP Securities initiated coverage on shares of IAC in a research report on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price target for the company. Benchmark reaffirmed a "buy" rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Truist Financial boosted their price objective on shares of IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, KeyCorp reduced their price target on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $76.40.

IAC Stock Performance

Shares of IAC stock traded up $0.94 on Friday, hitting $52.24. The company had a trading volume of 370,417 shares, compared to its average volume of 691,729. IAC Inc. has a twelve month low of $41.39 and a twelve month 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. The firm 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 price of $50.48 and a 200-day moving average price of $50.61.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results 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 firm had revenue of $949.50 million for the quarter, compared to analysts' expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. IAC's revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) earnings per share. As a group, equities research analysts predict that IAC Inc. will post -0.79 earnings per share for the current fiscal 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.