Parkside Investments LLC Boosts Stock Holdings in IAC Inc. (NASDAQ:IAC)

Parkside Investments LLC grew its position in shares of IAC Inc. (NASDAQ:IAC) by 16.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,854 shares of the company’s stock after acquiring an additional 28,585 shares during the quarter. IAC accounts for approximately 1.7% of Parkside Investments LLC’s portfolio, making the stock its 16th largest holding. Parkside Investments LLC owned about 0.26% of IAC worth $10,927,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IAC. Norges Bank purchased a new position in IAC during the 4th quarter worth $39,426,000. First Trust Advisors LP bought a new stake in shares of IAC during the 4th quarter worth $27,053,000. TimesSquare Capital Management LLC raised its stake in shares of IAC by 66.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock worth $52,124,000 after purchasing an additional 413,440 shares during the period. Scopus Asset Management L.P. raised its stake in shares of IAC by 100.0% during the 3rd quarter. Scopus Asset Management L.P. now owns 550,000 shares of the company’s stock worth $27,714,000 after purchasing an additional 275,000 shares during the period. Finally, Freshford Capital Management LLC raised its stake in shares of IAC by 18.7% during the 4th quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock worth $86,182,000 after purchasing an additional 259,000 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. KeyCorp lifted their target price on IAC from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. StockNews.com cut IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Oppenheimer boosted their price objective on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Truist Financial upped their price target on IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Wells Fargo & Company upped their price target on IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.92.

IAC Price Performance

IAC traded up $0.17 during midday trading on Wednesday, hitting $46.76. The stock had a trading volume of 158,436 shares, compared to its average volume of 749,891. The business has a fifty day moving average of $50.40 and a 200 day moving average of $51.61. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.21. The firm had revenue of $929.68 million during the quarter, compared to analyst estimates of $937.68 million. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. Equities research analysts forecast that IAC Inc. will post 0.09 EPS for the current year.

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.