IAC Inc. (NASDAQ:IAC) Shares Bought by Royce & Associates LP

Royce & Associates LP increased its stake in IAC Inc. (NASDAQ:IAC) by 5.1% in the third quarter, Holdings Channel reports. The firm owned 278,679 shares of the company’s stock after purchasing an additional 13,400 shares during the period. Royce & Associates LP’s holdings in IAC were worth $14,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in IAC during the 1st quarter valued at approximately $221,000. Russell Investments Group Ltd. lifted its stake in IAC by 29.0% during the 1st quarter. Russell Investments Group Ltd. now owns 104,889 shares of the company’s stock valued at $5,595,000 after acquiring an additional 23,567 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in IAC by 6.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 89,514 shares of the company’s stock valued at $4,619,000 after acquiring an additional 5,172 shares during the period. Edgestream Partners L.P. acquired a new stake in IAC during the 1st quarter valued at approximately $575,000. Finally, Covestor Ltd lifted its stake in IAC by 47.3% during the 1st quarter. Covestor Ltd now owns 3,825 shares of the company’s stock valued at $204,000 after acquiring an additional 1,229 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IAC has been the subject of several research reports. Barclays decreased their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group upgraded shares of IAC to a “hold” rating in a research note on Monday, October 28th. TD Cowen cut their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Macquarie reaffirmed an “outperform” rating and set a $14.00 target price on shares of IAC in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.91.

IAC Price Performance

Shares of NASDAQ IAC opened at $46.95 on Friday. The firm has a market cap of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. The firm has a fifty day moving average of $51.97 and a 200 day moving average of $50.87. 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 Inc. has a one year low of $43.51 and a one year high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company 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%. IAC’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) EPS. As a group, research analysts predict that IAC Inc. will post -0.82 EPS for the current fiscal year.

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.