Sanctuary Advisors LLC Acquires 83,878 Shares of IAC Inc. (NASDAQ:IAC)

Sanctuary Advisors LLC raised its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 581.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,307 shares of the company's stock after acquiring an additional 83,878 shares during the period. Sanctuary Advisors LLC owned approximately 0.12% of IAC worth $5,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of IAC by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock worth $51,027,000 after purchasing an additional 52,271 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in IAC during the 2nd quarter worth approximately $1,649,000. Royce & Associates LP boosted its holdings in IAC by 5.1% in the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company's stock worth $14,999,000 after acquiring an additional 13,400 shares during the period. Highbridge Capital Management LLC grew its position in IAC by 70.4% in the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company's stock valued at $7,746,000 after acquiring an additional 68,291 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company's stock valued at $76,527,000 after purchasing an additional 79,951 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IAC shares. Truist Financial decreased their target price on shares of IAC from $88.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. JMP Securities reissued a "market outperform" rating and issued a $70.00 price objective on shares of IAC in a research report on Monday. KeyCorp dropped their target price on IAC from $66.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. TD Cowen cut their price target on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Finally, UBS Group upgraded IAC to a "hold" rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.33.

IAC Stock Performance

IAC stock traded up $0.30 during mid-day trading on Monday, reaching $44.77. The company's stock had a trading volume of 850,488 shares, compared to its average volume of 663,143. IAC Inc. has a twelve month low of $43.51 and a twelve month high of $58.29. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -104.47 and a beta of 1.31. The business has a 50 day moving average price of $49.88 and a 200-day moving average price of $50.04. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) 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 previous year, the firm earned ($0.30) earnings per share. IAC's revenue was down 15.5% on a year-over-year basis. Sell-side analysts predict that IAC Inc. will post -3.97 EPS for the current fiscal year.

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.