IAC Inc. $IAC Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of IAC Inc. (NASDAQ:IAC) by 123.7% in the second quarter, Holdings Channel.com reports. The firm owned 7,952 shares of the company’s stock after buying an additional 4,397 shares during the period. Asset Management One Co. Ltd.’s holdings in IAC were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IAC. Bleakley Financial Group LLC lifted its stake in IAC by 2.3% during the second quarter. Bleakley Financial Group LLC now owns 33,842 shares of the company’s stock worth $1,264,000 after purchasing an additional 745 shares during the last quarter. Ethic Inc. raised its stake in shares of IAC by 44.2% during the second quarter. Ethic Inc. now owns 10,316 shares of the company’s stock valued at $387,000 after purchasing an additional 3,163 shares in the last quarter. Applied Fundamental Research LLC lifted its stake in shares of IAC by 12.3% in the 2nd quarter. Applied Fundamental Research LLC now owns 467,541 shares of the company’s stock worth $17,458,000 after acquiring an additional 51,347 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of IAC by 806.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 511,103 shares of the company’s stock valued at $19,872,000 after purchasing an additional 454,733 shares during the period. Finally, KLP Kapitalforvaltning AS grew its holdings in IAC by 13.6% during the second quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company’s stock worth $624,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. UBS Group upped their target price on IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Oppenheimer dropped their price target on IAC from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note 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, Piper Sandler dropped their target price on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

IAC Trading Up 0.3%

Shares of NASDAQ:IAC opened at $31.82 on Friday. The firm has a fifty day moving average of $34.87 and a two-hundred day moving average of $36.26. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12-month low of $31.30 and a 12-month high of $55.16. The firm has a market capitalization of $2.37 billion, a P/E ratio of -5.90 and a beta of 1.23.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.IAC’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company earned ($1.71) earnings per share. On average, equities analysts expect 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.