Incline Global Management LLC Sells 46,598 Shares of IAC Inc. (NASDAQ:IAC)

Incline Global Management LLC trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 187,402 shares of the company’s stock after selling 46,598 shares during the quarter. IAC makes up 4.5% of Incline Global Management LLC’s portfolio, making the stock its 7th biggest holding. Incline Global Management LLC owned 0.23% of IAC worth $10,086,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in IAC by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in IAC during the 2nd quarter valued at approximately $1,649,000. Royce & Associates LP boosted its stake in IAC by 5.1% during the third quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock worth $14,999,000 after buying an additional 13,400 shares in the last quarter. Highbridge Capital Management LLC increased its holdings in shares of IAC by 70.4% during the second quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after buying an additional 68,291 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after acquiring an additional 79,951 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

Shares of IAC stock traded down $0.36 during trading on Tuesday, reaching $48.14. 17,442 shares of the company’s stock traded hands, compared to its average volume of 661,736. The firm’s 50-day moving average is $50.93 and its 200 day moving average is $50.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. IAC Inc. has a 1 year low of $43.51 and a 1 year high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) EPS. As a group, sell-side analysts expect that IAC Inc. will post -3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IAC shares. KeyCorp cut their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Citigroup lowered their price target on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. Finally, Barclays dropped their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.36.

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.