Marshall Wace LLP Makes New $5.64 Million Investment in IAC Inc. (NASDAQ:IAC)

Marshall Wace LLP bought a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 120,467 shares of the company's stock, valued at approximately $5,644,000. Marshall Wace LLP owned 0.15% of IAC at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of IAC in the second quarter valued at about $506,000. Evergreen Capital Management LLC bought a new stake in IAC during the 2nd quarter valued at approximately $208,000. Public Sector Pension Investment Board purchased a new position in IAC in the 2nd quarter worth approximately $7,200,000. Thrivent Financial for Lutherans bought a new position in IAC in the 2nd quarter worth approximately $2,717,000. Finally, XTX Topco Ltd bought a new position in IAC in the 2nd quarter worth approximately $658,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Trading Down 4.0 %

Shares of NASDAQ:IAC traded down $2.16 during trading on Tuesday, hitting $51.66. The company had a trading volume of 546,156 shares, compared to its average volume of 681,515. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -32.64 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. The company has a fifty day simple moving average of $51.46 and a two-hundred day simple moving average of $50.66. IAC Inc. has a one year low of $41.39 and a one year high of $58.29.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The firm had revenue of $949.50 million for the quarter, compared to analysts' expectations of $942.77 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. The firm's quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that IAC Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. KeyCorp lowered their target price on shares of IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. JMP Securities started coverage on IAC in a research report on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price objective for the company. Benchmark reiterated a "buy" rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Finally, Truist Financial increased their price target on IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.