Regal Partners Ltd Trims Stock Holdings in IAC Inc. (NASDAQ:IAC)

Regal Partners Ltd reduced its stake in IAC Inc. (NASDAQ:IAC) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,893 shares of the company’s stock after selling 3,024 shares during the period. IAC makes up 0.9% of Regal Partners Ltd’s portfolio, making the stock its 28th biggest position. Regal Partners Ltd owned approximately 0.24% of IAC worth $10,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Tandem Capital Management Corp ADV grew its stake in shares of IAC by 0.6% in the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after acquiring an additional 260 shares during the last quarter. Greenwich Wealth Management LLC lifted its holdings in shares of IAC by 3.0% during the second quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after purchasing an additional 284 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock valued at $833,000 after purchasing an additional 405 shares in the last quarter. CWM LLC lifted its holdings in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of IAC by 1.6% during the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IAC shares. Truist Financial lowered their price target on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup lowered their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Barclays lowered their target price on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.60.

IAC Stock Down 2.4 %

NASDAQ IAC opened at $47.01 on Thursday. The stock’s 50-day moving average price is $52.22 and its 200-day moving average price is $50.93. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC Inc. has a 52 week low of $43.51 and a 52 week high of $58.29. The company has a market capitalization of $3.78 billion, a P/E ratio of -109.33 and a beta of 1.33.

IAC (NASDAQ:IAC) last issued its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million for the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period last year, the business posted ($0.30) EPS. On average, equities research analysts predict that IAC Inc. will post -0.79 earnings per share 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.