Helikon Investments Ltd Buys New Position in IAC Inc. $IAC

Helikon Investments Ltd acquired a new stake in shares of IAC Inc. (NASDAQ:IAC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,036,840 shares of the company’s stock, valued at approximately $76,056,000. IAC makes up approximately 4.7% of Helikon Investments Ltd’s holdings, making the stock its 7th largest position.

A number of other hedge funds also recently made changes to their positions in IAC. GAMMA Investing LLC increased its stake in IAC by 48.5% in the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after acquiring an additional 367 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in IAC by 240.3% during the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after purchasing an additional 829 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in shares of IAC in the 2nd quarter worth about $51,000. North Capital Inc. purchased a new position in shares of IAC in the 2nd quarter worth about $75,000. Finally, US Bancorp DE increased its position in shares of IAC by 21.9% during the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after purchasing an additional 401 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of research reports. Truist Financial cut their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Barclays reduced their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. KeyCorp decreased their price objective on IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Piper Sandler reduced their price target on IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

IAC Stock Performance

Shares of IAC stock opened at $34.14 on Thursday. The company’s fifty day moving average price is $34.28 and its 200-day moving average price is $36.24. The stock has a market cap of $2.45 billion, a PE ratio of -12.51 and a beta of 1.25. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.29. IAC Inc. has a 12 month low of $29.56 and a 12 month high of $50.49.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. During the same period last year, the business earned ($2.93) earnings per share. The company’s revenue was down 8.1% on a year-over-year basis. 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.