AQR Capital Management LLC Increases Stake in IAC Inc. (NASDAQ:IAC)

AQR Capital Management LLC boosted its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,075 shares of the company's stock after purchasing an additional 16,376 shares during the quarter. AQR Capital Management LLC owned about 0.21% of IAC worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of IAC. Garden State Investment Advisory Services LLC boosted its stake in IAC by 1.3% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company's stock worth $786,000 after buying an additional 196 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in shares of IAC by 0.6% during the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company's stock valued at $2,192,000 after purchasing an additional 260 shares during the last quarter. Greenwich Wealth Management LLC raised its position in IAC by 3.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company's stock worth $451,000 after purchasing an additional 284 shares during the period. Treasurer of the State of North Carolina lifted its stake in IAC by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company's stock worth $1,721,000 after purchasing an additional 320 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after buying an additional 408 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial increased their target price on IAC from $87.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 8th. KeyCorp cut 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. JMP Securities initiated coverage on shares of IAC in a research report on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price target for the company. Benchmark restated a "buy" rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, August 27th. Finally, Barclays dropped their target price on shares of IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.40.

IAC Stock Up 0.8 %

Shares of NASDAQ:IAC traded up $0.43 during trading on Friday, hitting $51.51. The stock had a trading volume of 173,627 shares, compared to its average volume of 675,350. The company has a market capitalization of $4.14 billion, a PE ratio of -32.66 and a beta of 1.32. 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's fifty day moving average is $51.47 and its 200 day moving average is $50.68. 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) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The firm 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 business's quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) EPS. Analysts anticipate that IAC Inc. will post -0.79 EPS 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.