DME Capital Management LP Acquires Shares of 291,460 IAC Inc. (NASDAQ:IAC)

DME Capital Management LP bought a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 291,460 shares of the company's stock, valued at approximately $13,655,000. IAC makes up approximately 0.7% of DME Capital Management LP's holdings, making the stock its 24th biggest holding. DME Capital Management LP owned 0.36% of IAC at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IAC. Norges Bank purchased a new stake in shares of IAC in the fourth quarter valued at $39,426,000. First Trust Advisors LP purchased a new stake in IAC in the 4th quarter worth about $27,053,000. Principal Financial Group Inc. lifted its stake in IAC by 5,474.2% in the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock worth $16,090,000 after purchasing an additional 337,268 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company's stock valued at $24,891,000 after buying an additional 282,304 shares during the period. Finally, Freshford Capital Management LLC grew its stake in shares of IAC by 18.7% during the fourth quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company's stock valued at $86,182,000 after buying an additional 259,000 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IAC shares. JMP Securities initiated coverage on IAC in a research note on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price target for the company. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Benchmark reaffirmed a "buy" rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday, August 27th. Citigroup lowered their price objective on shares of IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, KeyCorp reduced their target price on shares of IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.40.

IAC Stock Up 3.1 %

IAC stock traded up $1.66 during trading on Thursday, reaching $54.67. 494,141 shares of the company traded hands, compared to its average volume of 682,686. The business has a 50 day simple moving average of $51.30 and a 200 day simple moving average of $50.61. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -34.35 and a beta of 1.32.

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

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.