Mitsubishi UFJ Trust & Banking Corp Boosts Stake in IAC Inc. $IAC

Mitsubishi UFJ Trust & Banking Corp boosted its stake in IAC Inc. (NASDAQ:IAC) by 926.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 28,544 shares of the company’s stock after purchasing an additional 25,762 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in IAC were worth $972,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of IAC by 48.5% in the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after buying an additional 367 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after buying an additional 829 shares during the period. North Capital Inc. acquired a new position in IAC during the 2nd quarter worth about $75,000. Skandinaviska Enskilda Banken AB publ purchased a new position in IAC during the 2nd quarter valued at about $83,000. Finally, Geneos Wealth Management Inc. boosted its holdings in IAC by 96.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock valued at $114,000 after acquiring an additional 1,500 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Performance

Shares of IAC stock opened at $36.95 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -13.53 and a beta of 1.10. The firm has a fifty day moving average price of $38.36 and a 200 day moving average price of $36.40. The company has a current ratio of 2.56, 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.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on IAC. Truist Financial reduced their price target on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. KeyCorp cut their target price on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Benchmark reduced their target price on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Barclays cut their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

IAC Company 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.