Quarry LP Has $53,000 Stake in IAC Inc. (NASDAQ:IAC)

Quarry LP raised its position in IAC Inc. (NASDAQ:IAC) by 408.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 977 shares of the company’s stock after acquiring an additional 785 shares during the quarter. Quarry LP’s holdings in IAC were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of IAC in the 2nd quarter valued at about $39,000. GAMMA Investing LLC increased its position in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares during the last quarter. CWM LLC raised its stake in IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of IAC in the second quarter valued at approximately $60,000. Finally, Innealta Capital LLC bought a new position in shares of IAC during the 2nd quarter worth approximately $146,000. Institutional investors own 88.90% of the company’s stock.

IAC Trading Up 0.6 %

Shares of NASDAQ:IAC opened at $48.41 on Tuesday. The business’s 50 day simple moving average is $50.33 and its 200 day simple moving average is $50.14. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The company has a market capitalization of $3.90 billion, a P/E ratio of -112.58 and a beta of 1.31.

IAC (NASDAQ:IAC) last posted 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). 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 the consensus estimate of $922.62 million. During the same period in the prior year, the company earned ($0.30) EPS. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IAC shares. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Truist Financial cut 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. Barclays decreased their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Macquarie restated an “outperform” rating and set a $14.00 price objective on shares of IAC in a research report on Thursday, November 14th. Finally, KeyCorp decreased 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. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.36.

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.