IAC Inc. (NASDAQ:IAC) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC reduced its position in shares of IAC Inc. (NASDAQ:IAC) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,643 shares of the company’s stock after selling 8,763 shares during the period. Chemistry Wealth Management LLC’s holdings in IAC were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC boosted its position in shares of IAC by 581.3% during the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock worth $5,291,000 after buying an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after purchasing an additional 52,271 shares during the period. Royce & Associates LP boosted its holdings in IAC by 5.1% in the third quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after purchasing an additional 13,400 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in IAC by 15.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after purchasing an additional 44,000 shares during the period. Finally, Barclays PLC boosted its holdings in IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. KeyCorp decreased their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. JMP Securities reiterated a “market outperform” rating and issued a $70.00 target price on shares of IAC in a report on Monday, December 16th. Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Citigroup decreased their price target on IAC from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Truist Financial decreased their price target on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $67.50.

IAC Stock Down 1.3 %

IAC opened at $42.30 on Friday. The business’s 50-day simple moving average is $45.41 and its 200-day simple moving average is $49.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC Inc. has a one year low of $39.61 and a one year high of $58.29. The stock has a market capitalization of $3.40 billion, a P/E ratio of -98.37 and a beta of 1.32.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $922.62 million. During the same quarter last year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. Analysts anticipate that IAC Inc. will post -3.97 EPS for the current year.

IAC Company 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.