Northern Trust Corp Boosts Stock Position in IAC Inc. (NASDAQ:IAC)

Northern Trust Corp increased its stake in shares of IAC Inc. (NASDAQ:IAC) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 467,587 shares of the company’s stock after acquiring an additional 29,627 shares during the quarter. Northern Trust Corp’s holdings in IAC were worth $20,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. III Capital Management acquired a new stake in shares of IAC during the 4th quarter worth approximately $4,314,000. Tudor Investment Corp ET AL acquired a new stake in IAC during the fourth quarter worth $4,537,000. Aquatic Capital Management LLC purchased a new stake in IAC in the fourth quarter valued at $135,000. Oxford Asset Management LLP acquired a new position in shares of IAC in the 4th quarter valued at $268,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of IAC during the 4th quarter worth about $915,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Trading Down 1.4%

NASDAQ:IAC opened at $38.77 on Wednesday. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $58.29. The stock has a market cap of $2.87 billion, a P/E ratio of -5.95 and a beta of 1.24. 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 stock has a 50-day simple moving average of $39.10 and a 200-day simple moving average of $43.23.

IAC (NASDAQ:IAC) last posted its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.14. The firm had revenue of $570.49 million during the quarter, compared to analysts’ expectations of $809.18 million. IAC had a negative return on equity of 7.98% and a negative net margin of 14.18%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. As a group, analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 25th. KeyCorp decreased their price objective on shares of IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. UBS Group dropped their target price on shares of IAC from $54.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Barclays decreased their price target on IAC from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their price objective on IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.43.

IAC 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.