IAC Inc. (NASDAQ:IAC) Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 76.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,000 shares of the company’s stock after selling 19,625 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in IAC were worth $259,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IAC. Vanguard Group Inc. lifted its position in shares of IAC by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company’s stock valued at $341,097,000 after acquiring an additional 43,772 shares during the period. Southeastern Asset Management Inc. TN boosted its stake in IAC by 21.3% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock worth $118,719,000 after buying an additional 483,613 shares during the last quarter. Corvex Management LP boosted its position in shares of IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company’s stock worth $103,983,000 after acquiring an additional 920,875 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of IAC by 5.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company’s stock valued at $72,029,000 after buying an additional 84,121 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its position in IAC by 9.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company’s stock valued at $68,306,000 after acquiring an additional 130,604 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IAC. JMP Securities reduced their price target on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their target price on shares of IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Citigroup decreased their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Oppenheimer cut their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.38.

IAC Stock Performance

Shares of IAC stock opened at $37.50 on Tuesday. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -5.75 and a beta of 1.24. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $38.63 and its 200-day moving average price is $42.84. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.49.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. During the same period in the prior year, the business posted $0.51 earnings per share. IAC’s quarterly revenue was down 8.6% on a year-over-year basis. Equities research analysts forecast that IAC Inc. will post 0.43 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.