AQR Capital Management LLC Grows Stock Holdings in IAC Inc. (NASDAQ:IAC)

AQR Capital Management LLC grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 58.2% during the fourth quarter, HoldingsChannel reports. The firm owned 167,488 shares of the company’s stock after purchasing an additional 61,627 shares during the quarter. AQR Capital Management LLC’s holdings in IAC were worth $7,194,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IAC. Aster Capital Management DIFC Ltd boosted its stake in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after buying an additional 457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of IAC during the 4th quarter worth about $41,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after acquiring an additional 1,916 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in IAC during the fourth quarter worth approximately $135,000. Finally, Allworth Financial LP increased its position in IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup lowered their price target on IAC from $47.55 to $45.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Cowen restated a “buy” rating on shares of IAC in a report on Monday. Piper Sandler decreased their target price on IAC from $54.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, KeyCorp cut their price target on shares of IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

IAC Stock Performance

IAC stock opened at $35.32 on Thursday. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.42 and a beta of 1.24. The firm’s fifty day moving average price is $39.65 and its 200 day moving average price is $43.68.

IAC (NASDAQ:IAC) last announced 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, research analysts forecast that IAC Inc. will post 0.43 EPS for the current fiscal year.

IAC 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.