S&CO Inc. Sells 98,145 Shares of IAC Inc. $IAC

S&CO Inc. lessened its holdings in shares of IAC Inc. (NASDAQ:IAC) by 58.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,425 shares of the company’s stock after selling 98,145 shares during the quarter. S&CO Inc.’s holdings in IAC were worth $2,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vise Technologies Inc. purchased a new position in IAC during the 2nd quarter valued at $378,000. North Capital Inc. bought a new stake in shares of IAC during the 2nd quarter valued at about $75,000. Brooktree Capital Management purchased a new position in shares of IAC during the second quarter valued at about $9,211,000. Ovata Capital Management Ltd purchased a new position in shares of IAC during the second quarter valued at about $2,057,000. Finally, Levin Capital Strategies L.P. raised its stake in IAC by 503.3% in the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock worth $16,077,000 after buying an additional 359,180 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 0.3%

NASDAQ:IAC opened at $33.23 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a market cap of $2.38 billion, a P/E ratio of -12.17 and a beta of 1.25. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $55.16. The firm has a 50-day simple moving average of $34.43 and a two-hundred day simple moving average of $36.27.

IAC (NASDAQ:IAC) last issued its earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The firm had revenue of $589.79 million during the quarter, compared to the consensus estimate of $601.86 million. During the same quarter in the prior year, the company posted ($2.93) EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis. Analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IAC has been the topic of several research reports. UBS Group cut their price objective on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday. Benchmark lowered their target price on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. KeyCorp reduced their price target on IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Piper Sandler lowered their price objective on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.54.

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.