IAC Inc. $IAC Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 123.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,475 shares of the company’s stock after acquiring an additional 157,648 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in IAC were worth $10,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in IAC by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after purchasing an additional 1,117,313 shares during the last quarter. Helikon Investments Ltd acquired a new position in shares of IAC in the 2nd quarter valued at approximately $76,056,000. Patient Capital Management LLC boosted its stake in shares of IAC by 3.2% during the 2nd quarter. Patient Capital Management LLC now owns 1,739,006 shares of the company’s stock valued at $64,934,000 after buying an additional 54,343 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new position in shares of IAC during the 1st quarter valued at approximately $66,556,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of IAC by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company’s stock worth $46,638,000 after buying an additional 47,944 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Up 0.5%

IAC stock opened at $36.90 on Wednesday. The stock has a market cap of $2.64 billion, a PE ratio of -13.52 and a beta of 1.18. The firm’s 50-day simple moving average is $33.75 and its 200 day simple moving average is $35.95. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $50.49. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $589.79 million during the quarter, compared to the consensus estimate of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.IAC’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company posted ($2.93) EPS. As a group, sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on IAC shares. Benchmark reduced their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Barclays cut their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. KeyCorp lowered their price objective on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, UBS Group decreased their target price on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.73.

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.