Segantii Capital Management Ltd Invests $2.88 Million in IAC Inc. (NASDAQ:IAC)

Segantii Capital Management Ltd bought a new position in shares of IAC Inc. (NASDAQ:IAC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 55,000 shares of the company’s stock, valued at approximately $2,881,000. Segantii Capital Management Ltd owned about 0.07% of IAC as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IAC. SG Americas Securities LLC raised its position in IAC by 130.3% during the 3rd quarter. SG Americas Securities LLC now owns 5,542 shares of the company’s stock worth $279,000 after buying an additional 3,136 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of IAC by 1,116.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 4,171 shares of the company’s stock worth $210,000 after buying an additional 3,828 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of IAC by 82.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,990 shares of the company’s stock valued at $453,000 after buying an additional 4,051 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of IAC by 17.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 152,518 shares of the company’s stock valued at $7,685,000 after buying an additional 22,321 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in IAC by 16.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,416 shares of the company’s stock worth $726,000 after acquiring an additional 1,992 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Stock Performance

NASDAQ:IAC traded up $0.25 during mid-day trading on Thursday, hitting $55.32. 1,038,850 shares of the company’s stock traded hands, compared to its average volume of 799,836. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 22.38 and a beta of 1.34. The firm has a 50 day moving average of $51.47 and a two-hundred day moving average of $50.55. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, equities analysts forecast that IAC Inc. will post -2.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer raised their price target on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays increased their target price on shares of IAC from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial raised their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Citigroup lowered their price objective on shares of IAC from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. Finally, KeyCorp dropped their price objective on IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

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.