D. E. Shaw & Co. Inc. Buys New Stake in IAC Inc. (NASDAQ:IAC)

D. E. Shaw & Co. Inc. bought a new stake in IAC Inc. (NASDAQ:IAC) during the 4th quarter, HoldingsChannel reports. The fund bought 73,173 shares of the company’s stock, valued at approximately $3,157,000.

Several other large investors have also recently added to or reduced their stakes in IAC. Barclays PLC increased its position in IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after acquiring an additional 54,797 shares during the period. Franklin Resources Inc. increased its position in shares of 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 purchasing an additional 686 shares during the period. Assenagon Asset Management S.A. increased its position in shares of IAC by 452.4% during the 4th 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 during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of IAC by 1,398.5% during 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. Finally, Clear Harbor Asset Management LLC increased its position in shares of IAC by 145.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 9,466 shares of the company’s stock valued at $408,000 after purchasing an additional 5,605 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Performance

IAC opened at $37.80 on Monday. The firm has a market cap of $2.80 billion, a PE ratio of -5.80 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $38.75 and a 200-day simple moving average of $42.92. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $55.49.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IAC. Truist Financial lowered their price target on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. KeyCorp lowered their price target on IAC from $64.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price target on IAC from $60.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Benchmark lowered their price target on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lowered their price target on IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.38.

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.