Captrust Financial Advisors Raises Stock Position in IAC Inc. (NASDAQ:IAC)

Captrust Financial Advisors boosted its position in shares of IAC Inc. (NASDAQ:IAC) by 925.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,678 shares of the company’s stock after acquiring an additional 48,445 shares during the period. Captrust Financial Advisors’ holdings in IAC were worth $2,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IAC. Applied Fundamental Research LLC increased its holdings in shares of IAC by 12.1% during the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock valued at $17,955,000 after acquiring an additional 44,835 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in IAC during the 4th quarter worth approximately $595,000. Barclays PLC grew its position in IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after purchasing an additional 54,797 shares during the last quarter. Proficio Capital Partners LLC increased its stake in IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock valued at $9,897,000 after purchasing an additional 224,131 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of IAC by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after buying an additional 19,148 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

NASDAQ:IAC opened at $37.02 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company has a 50 day moving average price of $39.33 and a 200-day moving average price of $43.34. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $58.29. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -5.68 and a beta of 1.24.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, May 5th. The company reported ($2.80) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.14. The company had revenue of $570.49 million for the quarter, compared to analyst estimates of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Equities research analysts forecast that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IAC. The Goldman Sachs Group dropped their price objective on shares of IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Cowen reaffirmed a “buy” rating on shares of IAC in a research report on Monday, May 5th. Oppenheimer cut their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Piper Sandler reduced their price objective on IAC from $54.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group dropped their target price on IAC from $54.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.43.

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.