Sherbrooke Park Advisers LLC Invests $213,000 in IAC Inc. (NASDAQ:IAC)

Sherbrooke Park Advisers LLC acquired a new position in IAC Inc. (NASDAQ:IAC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,948 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors have also made changes to their positions in IAC. Applied Fundamental Research LLC increased its stake in IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock valued at $17,955,000 after acquiring an additional 44,835 shares during the period. Bryce Point Capital LLC bought a new position in IAC during the fourth quarter valued at about $595,000. Barclays PLC increased its stake in IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after acquiring an additional 54,797 shares during the period. Proficio Capital Partners LLC increased its stake in IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock valued at $9,897,000 after acquiring an additional 224,131 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in IAC by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock valued at $41,728,000 after acquiring an additional 19,148 shares during the period. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Down 1.2%

Shares of IAC opened at $37.04 on Wednesday. The company has a market capitalization of $2.74 billion, a P/E ratio of -5.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC Inc. has a one year low of $32.05 and a one year high of $55.40. The business’s 50 day simple moving average is $38.50 and its 200-day simple moving average is $42.80.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, May 5th. The company reported ($2.80) 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 business had revenue of $570.49 million for the quarter, compared to the consensus estimate of $809.18 million. During the same period in the previous year, the business earned $0.51 EPS. IAC’s revenue was down 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

IAC has been the topic of several research reports. Barclays lowered their price target on IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Piper Sandler lowered their price objective on IAC from $54.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. UBS Group lowered their price objective on IAC from $54.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. JMP Securities lowered their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their price objective on IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.38.

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.