Legal & General Group Plc Has $8.08 Million Position in IAC Inc. $IAC

Legal & General Group Plc cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 7.0% during the second quarter, HoldingsChannel.com reports. The firm owned 216,419 shares of the company’s stock after selling 16,317 shares during the period. Legal & General Group Plc’s holdings in IAC were worth $8,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of IAC in the first quarter worth $248,000. Cetera Investment Advisers raised its stake in shares of IAC by 12.5% during the 1st quarter. Cetera Investment Advisers now owns 8,312 shares of the company’s stock worth $382,000 after purchasing an additional 921 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of IAC by 40.9% during the 1st quarter. Mackenzie Financial Corp now owns 11,580 shares of the company’s stock valued at $532,000 after buying an additional 3,360 shares during the last quarter. US Bancorp DE grew its stake in shares of IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after buying an additional 401 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in IAC by 148.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,353 shares of the company’s stock worth $292,000 after buying an additional 3,791 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Up 1.1%

Shares of NASDAQ:IAC opened at $36.11 on Wednesday. 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 stock’s 50-day moving average is $33.55 and its 200-day moving average is $35.96. The company has a market cap of $2.59 billion, a P/E ratio of -13.23 and a beta of 1.18. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49.

IAC (NASDAQ:IAC) last announced its earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The business had revenue of $589.79 million for the quarter, compared to the consensus estimate of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. IAC’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.93) EPS. Equities research analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Barclays reduced their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group reduced their price objective on shares of IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Truist Financial decreased their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Oppenheimer cut their target price on IAC from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Finally, Piper Sandler decreased their price target on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IAC has an average rating of “Moderate Buy” and a consensus target price of $46.73.

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.