IAC Inc. (NASDAQ:IAC) Shares Bought by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC increased its position in IAC Inc. (NASDAQ:IAC) by 27.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,541 shares of the company’s stock after purchasing an additional 3,949 shares during the period. Chemistry Wealth Management LLC’s holdings in IAC were worth $989,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new position in IAC in the first quarter valued at approximately $27,000. Covestor Ltd boosted its stake in IAC by 15.4% in the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after acquiring an additional 286 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in IAC in the fourth quarter valued at approximately $203,000. Capstone Investment Advisors LLC acquired a new position in IAC in the fourth quarter valued at approximately $209,000. Finally, Brown Advisory Inc. acquired a new position in IAC in the fourth quarter valued at approximately $209,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAC has been the subject of a number of research reports. KeyCorp lifted their target price on IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Oppenheimer lifted their price target on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Barclays lifted their price target on IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. StockNews.com cut IAC from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Finally, Truist Financial lifted their price target on IAC from $80.00 to $87.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $79.92.

IAC Trading Down 0.5 %

NASDAQ IAC traded down $0.23 on Wednesday, hitting $46.36. 674,457 shares of the stock were exchanged, compared to its average volume of 754,121. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -29.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $69.85. The company’s 50-day moving average price is $50.40 and its two-hundred day moving average price is $51.61.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.21. The firm had revenue of $929.68 million during the quarter, compared to analyst estimates of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. Research analysts predict that IAC Inc. will post 0.09 EPS for the current year.

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.