Quantinno Capital Management LP Purchases 4,568 Shares of IAC Inc. (NASDAQ:IAC)

Quantinno Capital Management LP increased its position in shares of IAC Inc. (NASDAQ:IAC) by 28.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,397 shares of the company’s stock after acquiring an additional 4,568 shares during the period. Quantinno Capital Management LP’s holdings in IAC were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Greenwich Wealth Management LLC boosted its position in shares of IAC by 3.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock valued at $451,000 after acquiring an additional 284 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after buying an additional 405 shares in the last quarter. CWM LLC grew its stake in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after buying an additional 490 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IAC has been the subject of several research reports. TD Cowen cut their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. KeyCorp decreased their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $54.00 in a research report on Tuesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

IAC Stock Performance

IAC stock opened at $46.24 on Friday. IAC Inc. has a 12-month low of $43.51 and a 12-month high of $58.29. The stock’s 50 day simple moving average is $50.12 and its 200 day simple moving average is $50.09. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.72 billion, a PE ratio of -107.53 and a beta of 1.31.

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