Royce & Associates LP Decreases Position in IAC Inc. $IAC

Royce & Associates LP reduced its stake in IAC Inc. (NASDAQ:IAC) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,497 shares of the company’s stock after selling 17,730 shares during the period. Royce & Associates LP’s holdings in IAC were worth $8,841,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in IAC by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after acquiring an additional 115,652 shares in the last quarter. United Services Automobile Association purchased a new position in shares of IAC during the first quarter worth about $207,000. Empowered Funds LLC increased its position 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 purchasing an additional 718 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of IAC in the 1st quarter valued at about $270,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of IAC in the 2nd quarter valued at about $611,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IAC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. UBS Group restated a “neutral” rating and issued a $42.00 price objective on shares of IAC in a research note on Friday, February 6th. Jefferies Financial Group increased their target price on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. upped their price objective on IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Stock Up 0.8%

IAC stock opened at $37.65 on Wednesday. The stock’s 50 day moving average price is $37.95 and its 200 day moving average price is $36.10. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $50.49. The company has a market cap of $2.68 billion, a PE ratio of -28.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 3rd. The company reported ($0.99) 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 company had revenue of $645.98 million for the quarter, compared to analysts’ expectations of $641.01 million. During the same quarter in the previous year, the firm posted ($2.39) earnings per share. IAC’s revenue for the quarter was down 34.7% on a year-over-year basis. On average, sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.