Highbridge Capital Management LLC Raises Stock Holdings in IAC Inc. (NASDAQ:IAC)

Highbridge Capital Management LLC grew its position in IAC Inc. (NASDAQ:IAC - Free Report) by 70.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,329 shares of the company's stock after acquiring an additional 68,291 shares during the period. Highbridge Capital Management LLC owned 0.21% of IAC worth $7,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of IAC during the 1st quarter worth approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of IAC during the 2nd quarter worth $39,000. CWM LLC grew its stake in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after buying an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in IAC in the second quarter valued at approximately $60,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of IAC during the 1st quarter worth $80,000. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Performance

IAC traded up $0.60 during trading on Thursday, hitting $54.65. 518,977 shares of the company traded hands, compared to its average volume of 686,707. 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 $4.39 billion, a P/E ratio of -34.59 and a beta of 1.32. IAC Inc. has a one year low of $41.39 and a one year high of $58.29. The stock's fifty day moving average is $50.95 and its 200 day moving average is $50.57.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The company had revenue of $949.50 million during 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%. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) EPS. As a group, equities analysts predict that IAC Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IAC has been the topic of a number of research reports. Truist Financial boosted their target price 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. KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Barclays cut their target price on shares of IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their price objective on IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reissued a "buy" rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, IAC has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

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.