River Global Investors LLP Increases Stock Holdings in IAC Inc. (NASDAQ:IAC)

River Global Investors LLP raised its stake in IAC Inc. (NASDAQ:IAC) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,908 shares of the company’s stock after purchasing an additional 3,698 shares during the period. River Global Investors LLP’s holdings in IAC were worth $1,043,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management increased its stake in IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after purchasing an additional 303 shares during the last quarter. Covestor Ltd grew its position in shares of IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after acquiring an additional 286 shares during the last quarter. Headlands Technologies LLC grew its position in shares of IAC by 39.7% during the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after acquiring an additional 768 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of IAC during the third quarter worth approximately $201,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of IAC during the fourth quarter worth approximately $203,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IAC shares. Truist Financial lifted their price objective on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Barclays lifted their price objective on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. UBS Group lifted their price objective on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, KeyCorp lowered their price objective on shares of IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.23.

IAC Trading Up 2.6 %

Shares of IAC stock traded up $1.41 during trading hours on Friday, reaching $55.07. 14,590,709 shares of the company’s stock were exchanged, compared to its average volume of 742,432. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $69.85. The company has a fifty day moving average of $51.47 and a 200-day moving average of $50.40. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 22.21 and a beta of 1.34.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a net margin of 6.09% and a negative return on equity of 4.15%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Sell-side analysts forecast that IAC Inc. will post -2.02 EPS for the current fiscal year.

About IAC

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.