QRG Capital Management Inc. Increases Stock Position in IAC Inc. (NASDAQ:IAC)

QRG Capital Management Inc. raised its holdings in IAC Inc. (NASDAQ:IACFree Report) by 94.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,721 shares of the company’s stock after purchasing an additional 26,616 shares during the quarter. QRG Capital Management Inc. owned 0.07% of IAC worth $2,514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Asset Value Investors Ltd purchased a new stake in shares of IAC during the 4th quarter worth approximately $39,872,000. Corvex Management LP boosted its stake in shares of IAC by 61.8% during the 4th 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 in the last quarter. Norges Bank purchased a new stake in shares of IAC during the 4th quarter worth approximately $38,817,000. Southeastern Asset Management Inc. TN boosted its stake in shares of IAC by 21.3% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company’s stock worth $118,719,000 after acquiring an additional 483,613 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of IAC by 87.9% during the 4th quarter. Brown Advisory Inc. now owns 764,187 shares of the company’s stock worth $32,967,000 after acquiring an additional 357,442 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Down 1.0%

Shares of IAC opened at $36.81 on Thursday. The stock has a fifty day moving average of $35.93 and a two-hundred day moving average of $41.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 2.70. The company has a market capitalization of $2.73 billion, a PE ratio of -3.81 and a beta of 1.23. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.40.

IAC (NASDAQ:IACGet Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative return on equity of 11.11% and a negative net margin of 23.25%. IAC’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts forecast that IAC Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

IAC has been the topic of several research analyst reports. JMP Securities decreased their price target on IAC from $64.00 to $47.00 and set a “market outperform” rating on the stock in a research note on Tuesday, June 10th. KeyCorp decreased their price target on IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. UBS Group decreased their price target on IAC from $54.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Barclays decreased 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. Finally, Citigroup reduced their target price on IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.08.

Get Our Latest Stock Report on IAC

About IAC

(Free Report)

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.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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