Chemistry Wealth Management LLC Increases Stock Holdings in IAC Inc. (NASDAQ:IAC)

Chemistry Wealth Management LLC boosted its stake in shares of IAC Inc. (NASDAQ:IAC) by 75.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,871 shares of the company’s stock after buying an additional 10,228 shares during the quarter. Chemistry Wealth Management LLC’s holdings in IAC were worth $1,097,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Applied Fundamental Research LLC boosted 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 worth $17,955,000 after buying an additional 44,835 shares during the period. Bryce Point Capital LLC acquired a new stake in IAC in the fourth quarter valued at approximately $595,000. Barclays PLC raised 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 acquiring an additional 54,797 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in IAC by 4,238.5% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in IAC by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after purchasing an additional 19,148 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp cut their price objective 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. Truist Financial cut their target price on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Cowen reaffirmed a “buy” rating on shares of IAC in a report on Monday, May 5th. Oppenheimer lowered their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group lowered their price objective on shares of IAC from $54.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.38.

IAC Trading Down 0.8%

NASDAQ:IAC opened at $35.98 on Friday. The stock has a fifty day simple moving average of $35.69 and a 200-day simple moving average of $41.62. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $55.40. The company has a market capitalization of $2.66 billion, a PE ratio of -5.52 and a beta of 1.23. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

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 analysts’ consensus estimates of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to analysts’ expectations of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal 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.