FNY Investment Advisers LLC Sells 9,627 Shares of IAC Inc. $IAC

FNY Investment Advisers LLC trimmed its holdings in shares of IAC Inc. (NASDAQ:IAC) by 54.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,073 shares of the company’s stock after selling 9,627 shares during the period. FNY Investment Advisers LLC’s holdings in IAC were worth $301,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of IAC by 11.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company’s stock worth $250,447,000 after acquiring an additional 557,134 shares during the period. Davis Selected Advisers lifted its holdings in IAC by 0.8% during the 1st quarter. Davis Selected Advisers now owns 2,657,782 shares of the company’s stock valued at $122,099,000 after purchasing an additional 22,158 shares during the last quarter. Burgundy Asset Management Ltd. bought a new position in IAC during the 1st quarter valued at about $66,556,000. Charles Schwab Investment Management Inc. lifted its holdings in IAC by 5.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company’s stock valued at $46,638,000 after purchasing an additional 47,944 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in IAC by 422.9% during the 1st quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock valued at $40,025,000 after purchasing an additional 708,332 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Trading Down 0.9%

Shares of NASDAQ IAC opened at $33.67 on Thursday. IAC Inc. has a 1-year low of $32.04 and a 1-year high of $55.16. The company has a market cap of $2.50 billion, a PE ratio of -6.25 and a beta of 1.23. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $35.16 and a two-hundred day moving average of $36.30.

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, equities analysts expect that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IAC. 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. Truist Financial cut their price target on shares of IAC from $61.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. UBS Group lifted their price target on shares of IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Oppenheimer cut their price target on shares of IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and an average price target of $47.92.

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.