Sanctuary Advisors LLC Makes New $702,000 Investment in IAC Inc. (NASDAQ:IAC)

Sanctuary Advisors LLC acquired a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,429 shares of the company's stock, valued at approximately $702,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of IAC by 26.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 290,267 shares of the company's stock worth $13,600,000 after purchasing an additional 60,875 shares during the period. Algert Global LLC bought a new position in IAC during the second quarter worth about $366,000. Scientech Research LLC grew its position in shares of IAC by 184.0% during the 2nd quarter. Scientech Research LLC now owns 16,930 shares of the company's stock worth $793,000 after buying an additional 10,969 shares during the period. Mackenzie Financial Corp increased its stake in shares of IAC by 17.3% in the 2nd quarter. Mackenzie Financial Corp now owns 8,970 shares of the company's stock valued at $420,000 after acquiring an additional 1,320 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of IAC by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company's stock valued at $870,000 after acquiring an additional 553 shares during the period. 88.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Truist Financial lifted their target price on IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. JMP Securities initiated coverage on IAC in a report on Tuesday, July 9th. They issued an "outperform" rating and a $78.00 price target for the company. Barclays cut their price objective on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Finally, Citigroup lowered their target price on IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

IAC Price Performance

IAC stock traded up $0.10 during midday trading on Monday, reaching $52.91. 219,405 shares of the stock were exchanged, compared to its average volume of 665,800. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $58.29. The company has a fifty day moving average price of $51.63 and a 200 day moving average price of $50.64. 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 stock has a market capitalization of $4.25 billion, a PE ratio of -33.49 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share 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 the consensus estimate of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The business's revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) earnings per share. As a group, analysts expect that IAC Inc. will post -0.79 EPS for the current fiscal 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.