IAC Inc. (NASDAQ:IAC) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. cut its position in IAC Inc. (NASDAQ:IAC - Free Report) by 55.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,193 shares of the company's stock after selling 14,990 shares during the quarter. Centaurus Financial Inc.'s holdings in IAC were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IAC. First Trust Advisors LP acquired a new position in IAC during the 4th quarter worth $27,053,000. Principal Financial Group Inc. grew its position in shares of IAC by 5,474.2% during the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock worth $16,090,000 after buying an additional 337,268 shares in the last quarter. DME Capital Management LP purchased a new stake in shares of IAC during the second quarter worth approximately $13,655,000. Bank of New York Mellon Corp increased its stake 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 worth $24,891,000 after buying an additional 282,304 shares during the period. Finally, Freshford Capital Management LLC raised its holdings in IAC by 18.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Performance

Shares of IAC traded up $0.60 during mid-day trading on Friday, reaching $51.68. 311,672 shares of the company's stock were exchanged, compared to its average volume of 676,069. The business's fifty day simple moving average is $51.47 and its 200-day simple moving average is $50.67. The stock has a market capitalization of $4.15 billion, a PE ratio of -32.71 and a beta of 1.32. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $58.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68.

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 analysts' consensus estimates of ($0.32) by ($1.39). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The business had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts expect that IAC Inc. will post -0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Benchmark restated 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 IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Finally, JMP Securities started coverage on IAC in a research note on Tuesday, July 9th. They set an "outperform" rating and a $78.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, IAC currently has an average rating of "Moderate Buy" and an average price target 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.