Clear Harbor Asset Management LLC Has $408,000 Stake in IAC Inc. (NASDAQ:IAC)

Clear Harbor Asset Management LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC) by 145.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,466 shares of the company’s stock after purchasing an additional 5,605 shares during the period. Clear Harbor Asset Management LLC’s holdings in IAC were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares in the last quarter. State Street Corp grew its stake in shares of IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after acquiring an additional 28,577 shares in the last quarter. Geode Capital Management LLC increased its position in IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after acquiring an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. raised its stake in IAC by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after purchasing an additional 52,271 shares in the last quarter. Finally, WCM Investment Management LLC raised its stake in IAC by 25.0% in the 3rd quarter. WCM Investment Management LLC now owns 379,556 shares of the company’s stock worth $20,762,000 after purchasing an additional 75,918 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Trading Down 0.1 %

Shares of IAC stock opened at $42.27 on Wednesday. The firm’s 50 day moving average is $44.93 and its 200 day moving average is $49.10. The firm has a market capitalization of $3.40 billion, a PE ratio of -98.30 and a beta of 1.32. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

Wall Street Analyst Weigh In

IAC has been the topic of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 target price on shares of IAC in a report on Monday, December 16th. Barclays dropped their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. 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 report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. Finally, UBS Group raised shares of IAC to a “hold” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $67.50.

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.