Vise Technologies Inc. Buys New Holdings in IAC Inc. $IAC

Vise Technologies Inc. purchased a new position in shares of IAC Inc. (NASDAQ:IAC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,111 shares of the company’s stock, valued at approximately $378,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after purchasing an additional 367 shares during the period. Farther Finance Advisors LLC raised its stake in shares of IAC by 240.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after buying an additional 829 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in shares of IAC in the 2nd quarter valued at about $51,000. North Capital Inc. purchased a new stake in shares of IAC in the second quarter worth about $75,000. Finally, US Bancorp DE grew its holdings in IAC by 21.9% during the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock worth $103,000 after acquiring an additional 401 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group decreased their price target on IAC from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Barclays decreased 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. Piper Sandler dropped their price target on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Benchmark decreased their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Truist Financial lowered their target price on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Ten 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.73.

IAC Stock Performance

IAC opened at $33.22 on Friday. The firm’s fifty day simple moving average is $34.15 and its two-hundred day simple moving average is $36.21. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -12.17 and a beta of 1.25. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last released its quarterly 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 company had revenue of $589.79 million for the quarter, compared to analyst estimates of $601.86 million. IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company earned ($2.93) EPS. Equities analysts anticipate that IAC Inc. will post 0.43 earnings per share 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.