IAC (NASDAQ:IAC) Releases Quarterly Earnings Results, Misses Estimates By $0.60 EPS

IAC (NASDAQ:IAC) posted its quarterly earnings results on Monday. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.60), FiscalAI reports. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The business had revenue of $422.89 million during the quarter, compared to analysts’ expectations of $520.45 million.

IAC Stock Performance

NASDAQ:IAC traded up $0.20 during mid-day trading on Monday, hitting $45.17. 1,752,171 shares of the company traded hands, compared to its average volume of 1,080,548. The stock’s fifty day moving average price is $40.01 and its 200-day moving average price is $37.62. IAC has a one year low of $29.56 and a one year high of $45.82. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -33.96 and a beta of 1.03.

Institutional Trading of IAC

Several hedge funds have recently bought and sold shares of IAC. Bank of Montreal Can grew its holdings in IAC by 42,721.4% during the fourth quarter. Bank of Montreal Can now owns 3,128,104 shares of the company’s stock valued at $122,309,000 after purchasing an additional 3,120,799 shares during the period. Boston Partners bought a new stake in IAC during the fourth quarter valued at about $29,114,000. AQR Capital Management LLC grew its holdings in IAC by 43.8% during the fourth quarter. AQR Capital Management LLC now owns 1,651,207 shares of the company’s stock valued at $64,562,000 after purchasing an additional 502,927 shares during the period. Northern Right Capital Management L.P. grew its holdings in IAC by 89.0% during the second quarter. Northern Right Capital Management L.P. now owns 568,409 shares of the company’s stock valued at $21,224,000 after purchasing an additional 267,731 shares during the period. Finally, Patient Capital Management LLC boosted its stake in shares of IAC by 12.6% in the fourth quarter. Patient Capital Management LLC now owns 2,374,050 shares of the company’s stock worth $92,825,000 after acquiring an additional 265,805 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IAC. TD Cowen boosted their price target on IAC from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research upgraded IAC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. UBS Group reiterated a “neutral” rating and set a $42.00 price objective on shares of IAC in a research report on Friday, February 6th. The Goldman Sachs Group upped their price objective on IAC from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, KeyCorp upped their price objective on IAC from $41.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.57.

IAC Company 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.