Davis Selected Advisers Has $98.30 Million Stake in IAC Inc. $IAC

Davis Selected Advisers raised its stake in shares of IAC Inc. (NASDAQ:IAC) by 12.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,514,072 shares of the company’s stock after purchasing an additional 270,383 shares during the period. Davis Selected Advisers’ holdings in IAC were worth $98,301,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC acquired a new stake in shares of IAC during the 4th quarter valued at $25,000. Advisory Services Network LLC acquired a new stake in shares of IAC during the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC acquired a new stake in shares of IAC during the 3rd quarter valued at $39,000. iSAM Funds UK Ltd acquired a new stake in shares of IAC during the 3rd quarter valued at $113,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of IAC by 96.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock valued at $114,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Up 0.9%

IAC stock opened at $44.97 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. IAC Inc. has a 1 year low of $29.56 and a 1 year high of $45.82. The company has a fifty day simple moving average of $40.01 and a 200 day simple moving average of $37.56. The firm has a market cap of $3.20 billion, a PE ratio of -33.81 and a beta of 1.06.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The business had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. During the same period in the previous year, the firm posted ($2.39) EPS. The firm’s revenue for the quarter was down 34.7% on a year-over-year basis. Sell-side analysts anticipate that IAC Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark lifted their target price on shares of IAC from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC set a $57.00 target price on shares of IAC in a research note on Tuesday, March 3rd. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised shares of IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, UBS Group reissued a “neutral” rating and set a $42.00 target price on shares of IAC in a research note on Friday, February 6th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $49.38.

IAC Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.