Royce & Associates LP Has $15 Million Stock Position in IAC Inc. (NASDAQ:IAC)

Royce & Associates LP lifted its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,679 shares of the company's stock after buying an additional 13,400 shares during the period. Royce & Associates LP owned about 0.35% of IAC worth $14,999,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IAC. International Assets Investment Management LLC bought a new stake in IAC during the 2nd quarter worth about $39,000. GAMMA Investing LLC raised its holdings in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company's stock worth $53,000 after acquiring an additional 492 shares in the last quarter. CWM LLC boosted its position in IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after purchasing an additional 408 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in IAC in the second quarter valued at approximately $60,000. Finally, Innealta Capital LLC acquired a new position in shares of IAC during the 2nd quarter worth approximately $146,000. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Performance

NASDAQ:IAC traded down $0.03 during mid-day trading on Friday, hitting $46.95. 873,664 shares of the stock were exchanged, compared to its average volume of 665,573. The firm's 50-day simple moving average is $51.97 and its 200 day simple moving average is $50.87. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.18 and a beta of 1.33. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($2.73). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the business posted ($0.30) EPS. The firm's quarterly revenue was down 15.5% compared to the same quarter last year. As a group, equities analysts anticipate that IAC Inc. will post -0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on IAC. Macquarie reissued an "outperform" rating and issued a $14.00 price objective on shares of IAC in a report on Thursday. TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a "buy" rating for the company in a research note on Wednesday. Barclays lowered their price objective on shares of IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup cut their target price on shares of IAC from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial dropped their price objective on IAC from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.91.

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.