Boyar Asset Management Inc. Has $633,000 Position in IAC Inc. $IAC

Boyar Asset Management Inc. raised its holdings in IAC Inc. (NASDAQ:IAC) by 5.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,955 shares of the company’s stock after purchasing an additional 868 shares during the period. Boyar Asset Management Inc.’s holdings in IAC were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IAC. TD Private Client Wealth LLC increased its stake in IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after acquiring an additional 429 shares during the period. Fifth Third Bancorp boosted its holdings in IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock valued at $29,000 after purchasing an additional 507 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock valued at $29,000 after purchasing an additional 583 shares during the period. Versant Capital Management Inc raised its holdings in shares of IAC by 118.6% in the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock worth $31,000 after buying an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of IAC by 219.4% during the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after buying an additional 520 shares during the period. 88.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IAC shares. UBS Group upped their price target on IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Saturday, September 27th. Piper Sandler cut their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, KeyCorp dropped their price objective on shares of IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

IAC Stock Up 0.6%

Shares of NASDAQ:IAC opened at $34.59 on Friday. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.57 billion, a P/E ratio of -6.42 and a beta of 1.23. IAC Inc. has a 12 month low of $32.04 and a 12 month high of $55.16. The company’s 50-day moving average price is $36.08 and its two-hundred day moving average price is $37.36.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same period in the previous year, the firm posted ($1.71) earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. As a group, research analysts forecast that IAC Inc. will post 0.43 EPS 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.