Harspring Capital Management LLC Sells 150,000 Shares of IAC Inc. (NASDAQ:IAC)

Harspring Capital Management LLC decreased its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 710,000 shares of the company's stock after selling 150,000 shares during the period. IAC makes up approximately 8.4% of Harspring Capital Management LLC's holdings, making the stock its 5th largest position. Harspring Capital Management LLC owned approximately 0.88% of IAC worth $33,264,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Thrivent Financial for Lutherans acquired a new stake in shares of IAC during the second quarter worth about $2,717,000. XTX Topco Ltd acquired a new stake in shares of IAC during the second quarter worth about $658,000. Highbridge Capital Management LLC boosted its stake in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company's stock worth $7,746,000 after buying an additional 68,291 shares during the period. Seven Eight Capital LP acquired a new stake in shares of IAC during the second quarter worth about $312,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in IAC by 19.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,021 shares of the company's stock worth $329,000 after purchasing an additional 1,133 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Analysts Set New Price Targets

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

IAC Price Performance

Shares of IAC stock traded down $0.29 during trading hours on Friday, hitting $54.36. The company's stock had a trading volume of 722,135 shares, compared to its average volume of 686,901. The business has a fifty day moving average of $51.07 and a 200-day moving average of $50.57. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -34.41 and a beta of 1.32. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm's revenue for the quarter 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. As a group, equities research analysts anticipate that IAC Inc. will post -0.79 EPS for the current year.

IAC 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.