Price T Rowe Associates Inc. MD Sells 19,691 Shares of IAC Inc. (NASDAQ:IAC)

Price T Rowe Associates Inc. MD decreased its position in shares of IAC Inc. (NASDAQ:IAC) by 29.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,428 shares of the company’s stock after selling 19,691 shares during the period. Price T Rowe Associates Inc. MD’s holdings in IAC were worth $2,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Barclays PLC lifted its stake in IAC by 922.5% in 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 in the last quarter. Franklin Resources Inc. grew its holdings in IAC by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after buying an additional 686 shares in the last quarter. Fortis Advisors LLC increased its stake in IAC by 23.3% in the 4th quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock worth $416,000 after acquiring an additional 1,825 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of IAC by 452.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock valued at $4,438,000 after purchasing an additional 84,259 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in IAC in the fourth quarter worth $7,794,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 3.6 %

IAC stock opened at $35.32 on Thursday. The business’s 50-day simple moving average is $39.65 and its two-hundred day simple moving average is $43.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The company has a market cap of $2.74 billion, a PE ratio of -5.42 and a beta of 1.24. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.14. The company had revenue of $570.49 million during 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%. IAC’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Equities analysts anticipate that IAC Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IAC shares. JPMorgan Chase & Co. reduced their target price on shares of IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. UBS Group cut 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. Benchmark decreased their price target on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Barclays dropped their price objective on shares of IAC from $61.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, JMP Securities dropped their price target on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price 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.