Lecap Asset Management Ltd. Takes $741,000 Position in IAC Inc. (NASDAQ:IAC)

Lecap Asset Management Ltd. purchased a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,762 shares of the company's stock, valued at approximately $741,000.

Several other large investors have also recently bought and sold shares of IAC. Thompson Siegel & Walmsley LLC increased its holdings in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company's stock valued at $76,527,000 after acquiring an additional 79,951 shares during the last quarter. Whitebox Advisors LLC lifted its position in shares of IAC by 9.5% in the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company's stock worth $74,812,000 after acquiring an additional 121,664 shares during the period. Bank of New York Mellon Corp lifted its position in shares of IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company's stock worth $24,891,000 after acquiring an additional 282,304 shares during the period. Principal Financial Group Inc. lifted its position in shares of IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock worth $16,090,000 after acquiring an additional 337,268 shares during the period. Finally, DME Capital Management LP bought a new position in shares of IAC during the 2nd quarter worth approximately $13,655,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Trading Down 1.1 %

Shares of IAC stock traded down $0.59 during trading on Friday, reaching $51.15. 551,778 shares of the stock were exchanged, compared to its average volume of 654,778. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $58.29. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -32.46 and a beta of 1.32. The stock's fifty day moving average is $52.35 and its 200 day moving average is $50.69. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29.

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 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 for the quarter, compared to analysts' expectations of $942.77 million. During the same quarter in the previous year, the company earned ($0.76) EPS. The company's quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts expect that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IAC. JMP Securities assumed coverage on IAC in a research note on Tuesday, July 9th. They issued an "outperform" rating and a $78.00 target price for the company. Truist Financial increased their price target on IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Citigroup lowered their target price on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Barclays reduced their price target on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reissued a "buy" rating and set a $110.00 price target on shares of IAC in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, IAC currently has a consensus rating of "Moderate Buy" and a consensus 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.