IAC Inc. $IAC is Applied Fundamental Research LLC’s Largest Position

Applied Fundamental Research LLC lifted its stake in IAC Inc. (NASDAQ:IAC) by 12.3% in the second quarter, HoldingsChannel reports. The firm owned 467,541 shares of the company’s stock after acquiring an additional 51,347 shares during the quarter. IAC makes up about 15.5% of Applied Fundamental Research LLC’s investment portfolio, making the stock its biggest position. Applied Fundamental Research LLC’s holdings in IAC were worth $17,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IAC. TD Private Client Wealth LLC boosted its stake in shares of IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after buying an additional 429 shares during the period. Fifth Third Bancorp lifted its stake in IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock worth $29,000 after acquiring an additional 507 shares during the last quarter. GAMMA Investing LLC lifted its stake in IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock worth $35,000 after acquiring an additional 520 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in IAC by 240.3% in the second quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after acquiring an additional 829 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new position in IAC in the second quarter worth approximately $51,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 1.3%

IAC stock opened at $33.30 on Wednesday. IAC Inc. has a fifty-two week low of $32.04 and a fifty-two week high of $55.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The company has a market capitalization of $2.48 billion, a P/E ratio of -6.18 and a beta of 1.23. The stock has a 50-day simple moving average of $35.31 and a 200-day simple moving average of $36.53.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $2.87. The business had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.71) earnings per share. Equities research analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IAC. UBS Group lifted their price objective on shares of IAC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Oppenheimer decreased their price target on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. KeyCorp decreased their price target on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Benchmark decreased their price target on IAC from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average price target of $47.92.

IAC 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.