Everence Capital Management Inc. Purchases Shares of 10,410 IAC Inc. (NASDAQ:IAC)

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

Several other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in IAC by 7.7% during the 3rd quarter. Raymond James & Associates now owns 48,353 shares of the company's stock worth $2,602,000 after purchasing an additional 3,471 shares during the last quarter. Creative Planning grew its holdings in shares of IAC by 55.7% during the third quarter. Creative Planning now owns 14,380 shares of the company's stock worth $774,000 after buying an additional 5,145 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in IAC in the 3rd quarter valued at about $224,000. Chemistry Wealth Management LLC raised its stake in IAC by 8.9% during the 3rd quarter. Chemistry Wealth Management LLC now owns 22,406 shares of the company's stock valued at $1,206,000 after acquiring an additional 1,834 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JMP Securities began coverage on IAC in a research note on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price target for the company. Citigroup dropped their price objective on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Benchmark reissued a "buy" rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Finally, KeyCorp reduced their price objective on shares of IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, August 16th. Two 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.com, IAC has a consensus rating of "Moderate Buy" and a consensus price target of $76.40.

IAC Price Performance

IAC stock traded up $0.09 during midday trading on Tuesday, reaching $52.80. 224,672 shares of the company were exchanged, compared to its average volume of 656,162. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of -33.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The firm's 50-day simple moving average is $52.31 and its 200-day simple moving average is $50.67. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $58.29.

IAC (NASDAQ:IAC - Get Free Report) last posted 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). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm had revenue of $949.50 million during the quarter, compared to analyst estimates of $942.77 million. During the same period in the prior year, the firm earned ($0.76) EPS. The business's quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts anticipate that IAC Inc. will post -0.79 EPS for the current year.

IAC 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.