ShawSpring Partners LLC Has $85.03 Million Holdings in IAC Inc. (NASDAQ:IAC)

ShawSpring Partners LLC lowered its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 32.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,579,928 shares of the company's stock after selling 765,407 shares during the quarter. IAC comprises approximately 10.7% of ShawSpring Partners LLC's holdings, making the stock its 5th largest holding. ShawSpring Partners LLC owned 1.97% of IAC worth $85,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IAC. Tandem Capital Management Corp ADV raised its position in IAC by 0.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company's stock worth $2,192,000 after purchasing an additional 260 shares during the last quarter. Greenwich Wealth Management LLC grew its position in shares of IAC by 3.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company's stock worth $451,000 after buying an additional 284 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company's stock valued at $833,000 after acquiring an additional 405 shares during the last quarter. CWM LLC raised its position in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after acquiring an additional 408 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company's stock worth $1,705,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Price Performance

Shares of NASDAQ IAC traded down $0.83 during trading hours on Wednesday, reaching $46.93. 267,171 shares of the stock traded hands, compared to its average volume of 665,086. IAC Inc. has a 52-week low of $43.51 and a 52-week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company's 50-day simple moving average is $51.47 and its two-hundred day simple moving average is $50.55.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million during the quarter, compared to analysts' expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company's quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) EPS. Equities analysts predict that IAC Inc. will post -3.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IAC shares. TD Cowen lowered their target price on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Macquarie reiterated an "outperform" rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. Benchmark reissued a "buy" rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. UBS Group upgraded IAC to a "hold" rating in a research note on Monday, October 28th. Finally, Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.36.

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.