First Manhattan CO. LLC. Trims Holdings in IAC Inc. (NASDAQ:IAC)

First Manhattan CO. LLC. reduced its holdings in shares of IAC Inc. (NASDAQ:IAC) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,822 shares of the company’s stock after selling 32,258 shares during the period. First Manhattan CO. LLC. owned 0.49% of IAC worth $16,860,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IAC. Aster Capital Management DIFC Ltd raised its position in shares of IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in IAC in the fourth quarter worth about $41,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after buying an additional 1,916 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of IAC during the fourth quarter valued at approximately $135,000. Finally, Allworth Financial LP increased its position in shares of IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after acquiring an additional 3,079 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $37.02 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -5.68 and a beta of 1.24. The company has a fifty day moving average of $39.33 and a 200 day moving average of $43.46. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.94) by $1.14. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm had revenue of $570.49 million for the quarter, compared to analysts’ expectations of $809.18 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IAC shares. Oppenheimer lowered their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Barclays dropped their price objective on IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. UBS Group decreased their target price on IAC from $54.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday. KeyCorp dropped their price target on shares of IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Cowen restated a “buy” rating on shares of IAC in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

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.