Scientech Research LLC Purchases 10,969 Shares of IAC Inc. (NASDAQ:IAC)

Scientech Research LLC lifted its position in IAC Inc. (NASDAQ:IAC - Free Report) by 184.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,930 shares of the company's stock after purchasing an additional 10,969 shares during the quarter. Scientech Research LLC's holdings in IAC were worth $793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its holdings in IAC by 1.0% during 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 acquiring an additional 320 shares during the period. Capstone Investment Advisors LLC purchased a new stake in IAC during the 4th quarter valued at about $209,000. First Trust Advisors LP purchased a new stake in IAC during the 4th quarter valued at about $27,053,000. Freshford Capital Management LLC boosted its holdings in IAC by 18.7% during the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company's stock valued at $86,182,000 after acquiring an additional 259,000 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its holdings in IAC by 1.3% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company's stock valued at $786,000 after acquiring an additional 196 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays dropped their target price on IAC from $73.00 to $70.00 and set an "overweight" rating for the company 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 price target for the company. Benchmark reaffirmed a "buy" rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, August 27th. KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a research report on Friday, August 16th. Finally, Citigroup lowered their price target on IAC from $70.00 to $66.00 and set a "buy" 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 stock. According to MarketBeat.com, IAC has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

IAC Stock Up 0.1 %

Shares of IAC traded up $0.03 on Friday, reaching $54.70. The stock had a trading volume of 805,430 shares, compared to its average volume of 683,342. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -34.62 and a beta of 1.32. 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 50-day simple moving average of $51.44 and a 200-day simple moving average of $50.65. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $58.29.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The company 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%. The firm's quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.76) EPS. Sell-side analysts predict that IAC Inc. will post -0.79 EPS for the current 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.