Helikon Investments Ltd Sells 711,041 Shares of IAC Inc. $IAC

Helikon Investments Ltd reduced its position in shares of IAC Inc. (NASDAQ:IAC) by 34.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,325,799 shares of the company’s stock after selling 711,041 shares during the period. IAC accounts for about 3.1% of Helikon Investments Ltd’s portfolio, making the stock its 7th largest holding. Helikon Investments Ltd owned 1.85% of IAC worth $45,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of IAC by 38.6% during the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after purchasing an additional 115,652 shares in the last quarter. United Services Automobile Association acquired a new stake in IAC during the 1st quarter worth $207,000. Empowered Funds LLC grew its holdings in shares of IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after buying an additional 718 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of IAC in the first quarter valued at about $270,000. Finally, Ethic Inc. lifted its stake in shares of IAC by 44.2% in the second quarter. Ethic Inc. now owns 10,316 shares of the company’s stock worth $387,000 after buying an additional 3,163 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Up 2.4%

IAC opened at $37.40 on Monday. IAC Inc. has a one year low of $29.56 and a one year high of $50.49. The stock has a market capitalization of $2.68 billion, a PE ratio of -28.12 and a beta of 1.12. The business’s 50 day moving average price is $38.27 and its 200 day moving average price is $35.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.75.

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

Wall Street Analyst Weigh In

IAC has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Wall Street Zen cut IAC from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Truist Financial cut their price target on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Zacks Research downgraded IAC from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. upped their target price on IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.83.

IAC Profile

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.