Balyasny Asset Management L.P. Invests $561,000 in IAC Inc. (NASDAQ:IAC)

Balyasny Asset Management L.P. acquired a new stake in shares of IAC Inc. (NASDAQ:IAC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,994 shares of the company’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds have also bought and sold shares of IAC. Aster Capital Management DIFC Ltd lifted its stake in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of IAC in the 4th quarter valued at $41,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after purchasing an additional 1,916 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of IAC in the 4th quarter valued at $135,000. Finally, Allworth Financial LP lifted its stake in shares of IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after purchasing an additional 3,079 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on IAC. Truist Financial decreased their target price on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Piper Sandler decreased their target price on shares of IAC from $54.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Citigroup decreased their target price on shares of IAC from $47.55 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of IAC from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Oppenheimer reduced their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $55.38.

IAC Price Performance

IAC stock opened at $37.89 on Friday. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $57.60. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -5.81 and a beta of 1.24. The company has a fifty day simple moving average of $38.87 and a 200-day simple moving average of $43.10. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC) last released its 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. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business had revenue of $570.49 million during the quarter, compared to analyst estimates of $809.18 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities analysts anticipate that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.