Entropy Technologies LP Acquires New Position in IAC Inc. (NASDAQ:IAC)

Entropy Technologies LP bought a new position in shares of IAC Inc. (NASDAQ:IAC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,289 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of IAC in the second quarter valued at $39,000. GAMMA Investing LLC raised its position in IAC by 98.8% during the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the last quarter. CWM LLC lifted its holdings in shares of IAC by 55.6% in the second quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of IAC in the second quarter valued at about $60,000. Finally, Innealta Capital LLC acquired a new stake in shares of IAC in the second quarter valued at approximately $146,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IAC shares. KeyCorp reduced their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, November 12th. UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen cut their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.91.

IAC Price Performance

Shares of IAC stock opened at $46.95 on Friday. The business’s fifty day moving average price is $51.97 and its 200 day moving average price is $50.87. IAC Inc. has a twelve month low of $43.51 and a twelve month high of $58.29. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.78 billion, a P/E ratio of -109.18 and a beta of 1.33.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, research analysts anticipate that IAC Inc. will post -0.82 earnings per share for the current 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.