Joel Isaacson & Co. LLC Purchases 359,327 Shares of IAC Inc. (NASDAQ:IAC)

Joel Isaacson & Co. LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC) by 553.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 424,238 shares of the company’s stock after acquiring an additional 359,327 shares during the period. IAC makes up about 0.8% of Joel Isaacson & Co. LLC’s portfolio, making the stock its 21st largest holding. Joel Isaacson & Co. LLC’s holdings in IAC were worth $18,302,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp grew its stake in shares of IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after buying an additional 28,577 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after buying an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 buying an additional 52,271 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of IAC by 25.0% in the 3rd quarter. WCM Investment Management LLC now owns 379,556 shares of the company’s stock valued at $20,762,000 after acquiring an additional 75,918 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $41.60 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of -96.74 and a beta of 1.32. The company’s fifty day simple moving average is $43.59 and its 200 day simple moving average is $48.51. IAC Inc. has a 12-month low of $39.61 and a 12-month high of $58.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings data 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). The business had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) earnings per share. On average, analysts expect that IAC Inc. will post -3.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IAC has been the topic of a number of research reports. Barclays reduced their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Citigroup raised their price objective on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Truist Financial reduced their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.67.

IAC 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.