Royce & Associates LP Acquires 13,400 Shares of IAC Inc. (NASDAQ:IAC)

Royce & Associates LP lifted its position in IAC Inc. (NASDAQ:IAC) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,679 shares of the company’s stock after acquiring an additional 13,400 shares during the quarter. Royce & Associates LP owned 0.35% of IAC worth $14,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IAC. Principal Financial Group Inc. lifted its holdings in shares of IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after acquiring an additional 337,268 shares during the last quarter. DME Capital Management LP bought a new stake in shares of IAC in the 2nd quarter worth about $13,655,000. Bank of New York Mellon Corp lifted its holdings in shares of IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after acquiring an additional 282,304 shares during the last quarter. Swedbank AB purchased a new position in IAC in the 1st quarter worth about $11,460,000. Finally, Public Sector Pension Investment Board purchased a new position in IAC in the 2nd quarter worth about $7,200,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on IAC shares. Truist Financial reduced their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $110.00 price target on shares of IAC in a research note on Tuesday. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. TD Cowen reduced their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and a consensus target price of $70.91.

IAC Stock Down 0.1 %

NASDAQ:IAC opened at $46.95 on Friday. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The stock has a market capitalization of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.68 and a current ratio of 2.75. The company’s 50-day simple moving average is $51.97 and its 200-day simple moving average is $50.87.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. On average, equities analysts anticipate that IAC Inc. will post -0.82 earnings per share for the current fiscal year.

About IAC

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.