International Assets Investment Management LLC Grows Stake in IAC Inc. (NASDAQ:IAC)

International Assets Investment Management LLC increased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 5,282.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,209 shares of the company's stock after acquiring an additional 44,369 shares during the quarter. International Assets Investment Management LLC owned about 0.06% of IAC worth $24,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Lecap Asset Management Ltd. bought a new position in IAC during the 3rd quarter valued at approximately $741,000. Everence Capital Management Inc. purchased a new stake in shares of IAC in the third quarter worth $560,000. Raymond James & Associates increased its holdings in shares of IAC by 7.7% during the third quarter. Raymond James & Associates now owns 48,353 shares of the company's stock valued at $2,602,000 after acquiring an additional 3,471 shares in the last quarter. Creative Planning raised its position in shares of IAC by 55.7% in the 3rd quarter. Creative Planning now owns 14,380 shares of the company's stock worth $774,000 after purchasing an additional 5,145 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in IAC in the 3rd quarter worth about $224,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Performance

Shares of IAC stock traded down $0.10 during trading hours on Tuesday, reaching $51.36. 680,418 shares of the stock traded hands, compared to its average volume of 655,746. The company has a 50 day moving average price of $52.35 and a 200 day moving average price of $50.71. IAC Inc. has a one year low of $41.39 and a one year high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of -32.51 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The business 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%. The business's quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.76) earnings per share. On average, equities research analysts expect that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IAC. JMP Securities assumed coverage on shares of IAC in a research note on Tuesday, July 9th. They set an "outperform" rating and a $78.00 price objective for the company. Citigroup decreased their price objective on shares of IAC from $70.00 to $66.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Benchmark reiterated a "buy" rating and set a $110.00 target price on shares of IAC in a research note on Tuesday, August 27th. Barclays reduced their target price on IAC from $73.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Finally, KeyCorp lowered their price target on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, IAC presently has a consensus rating of "Moderate Buy" and an average target price 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.