Bank of Montreal Can Buys Shares of 10,800 IAC Inc. (NASDAQ:IAC)

Bank of Montreal Can bought a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,800 shares of the company's stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAC. Riverview Trust Co purchased a new position in shares of IAC in the first quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in IAC during the second quarter valued at approximately $39,000. CWM LLC grew its holdings in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after buying an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in IAC in the 2nd quarter worth approximately $60,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of IAC during the 1st quarter worth approximately $80,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

IAC has been the topic of several research reports. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Benchmark reaffirmed a "buy" rating and issued a $110.00 price target on shares of IAC in a report on Tuesday, August 27th. KeyCorp reduced their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Barclays lowered their price objective on IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial boosted their target price on IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

IAC Trading Down 1.0 %

IAC stock traded down $0.50 during mid-day trading on Thursday, hitting $51.99. The company's stock had a trading volume of 255,667 shares, compared to its average volume of 670,153. IAC Inc. has a one year low of $41.39 and a one year high of $58.29. The stock has a market cap of $4.18 billion, a PE ratio of -32.91 and a beta of 1.32. The company has a 50 day moving average of $51.46 and a 200-day moving average of $50.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68.

IAC (NASDAQ:IAC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The company had revenue of $949.50 million during the quarter, compared to analysts' expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company's quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.76) EPS. On average, research analysts anticipate that IAC Inc. will post -0.79 EPS for the current 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.