JPMorgan Chase & Co. Decreases Holdings in IAC Inc. $IAC

JPMorgan Chase & Co. decreased its holdings in IAC Inc. (NASDAQ:IAC) by 44.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,649,957 shares of the company’s stock after selling 2,918,970 shares during the period. JPMorgan Chase & Co. owned approximately 0.05% of IAC worth $124,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its stake in IAC by 16.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 60,154 shares of the company’s stock worth $2,049,000 after purchasing an additional 8,595 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of IAC by 8.7% in the third quarter. Public Sector Pension Investment Board now owns 504,604 shares of the company’s stock worth $17,192,000 after buying an additional 40,468 shares during the period. Rhumbline Advisers lifted its stake in shares of IAC by 1.4% in the 3rd quarter. Rhumbline Advisers now owns 164,317 shares of the company’s stock valued at $5,598,000 after acquiring an additional 2,280 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in IAC by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 70,868 shares of the company’s stock valued at $2,414,000 after acquiring an additional 1,692 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in IAC by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 324,621 shares of the company’s stock valued at $11,060,000 after acquiring an additional 3,158 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

IAC has been the topic of a number of analyst reports. Wall Street Zen downgraded IAC from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. upped their price target on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Jefferies Financial Group increased their price target on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Zacks Research cut shares of IAC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Finally, UBS Group reaffirmed a “neutral” rating and set a $42.00 price objective on shares of IAC in a research note on Friday, February 6th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

IAC Stock Up 2.4%

Shares of NASDAQ IAC opened at $37.40 on Monday. The company has a current ratio of 2.75, 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. The firm has a market capitalization of $2.68 billion, a PE ratio of -28.12 and a beta of 1.12. The firm has a fifty day simple moving average of $38.27 and a two-hundred day simple moving average of $35.99.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. During the same period in the previous year, the firm posted ($2.39) EPS. The company’s revenue for the quarter was down 34.7% on a year-over-year basis. Equities analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

About IAC

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.