Joel Isaacson & Co. LLC Has $18.30 Million Stake in IAC Inc. (NASDAQ:IAC)

Joel Isaacson & Co. LLC lifted its holdings in shares of IAC Inc. (NASDAQ:IAC) by 553.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 424,238 shares of the company’s stock after purchasing an additional 359,327 shares during the quarter. IAC accounts for about 0.8% of Joel Isaacson & Co. LLC’s portfolio, making the stock its 21st biggest position. Joel Isaacson & Co. LLC owned about 0.53% of IAC worth $18,302,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC increased its holdings in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares in the last quarter. Quarry LP grew its holdings in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after buying an additional 1,916 shares in the last quarter. KBC Group NV raised its position in IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after buying an additional 608 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in IAC in the 3rd quarter valued at approximately $208,000. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on IAC shares. Barclays reduced their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Truist Financial decreased their price objective on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price target on shares of IAC in a research report on Monday, December 16th. Finally, TD Cowen dropped their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.67.

IAC Stock Performance

IAC opened at $41.60 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The business has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $48.51. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29. The company has a market capitalization of $3.35 billion, a PE ratio of -96.74 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) 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 business 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 posted ($0.30) EPS. The company’s revenue was down 15.5% compared to the same quarter last year. Research analysts expect that IAC Inc. will post -3.97 EPS 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.