Everence Capital Management Inc. Makes New $560,000 Investment in IAC Inc. (NASDAQ:IAC)

Everence Capital Management Inc. bought a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,410 shares of the company's stock, valued at approximately $560,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Riverview Trust Co acquired a new stake in IAC during the 1st quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in IAC in the second quarter valued at about $39,000. GAMMA Investing LLC grew its stake in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock valued at $53,000 after purchasing an additional 492 shares in the last quarter. CWM LLC increased its holdings in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock worth $54,000 after purchasing an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of IAC during the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 88.90% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of IAC from $87.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 8th. Citigroup reduced their target price on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. JMP Securities assumed coverage on shares of IAC in a report on Tuesday, July 9th. They issued an "outperform" rating and a $78.00 price objective for the company. Benchmark reissued a "buy" rating and set a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Finally, Barclays decreased their price target 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $76.40.

IAC Stock Performance

IAC stock traded up $0.09 on Tuesday, reaching $52.80. The company's stock had a trading volume of 224,672 shares, compared to its average volume of 656,162. The firm has a fifty day moving average of $52.26 and a two-hundred day moving average of $50.66. 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 market capitalization of $4.24 billion, a P/E ratio of -33.36 and a beta of 1.32. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $58.29.

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