Boyar Asset Management Inc. Has $633,000 Holdings in IAC Inc. $IAC

Boyar Asset Management Inc. grew its position in shares of IAC Inc. (NASDAQ:IAC) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,955 shares of the company’s stock after buying an additional 868 shares during the quarter. Boyar Asset Management Inc.’s holdings in IAC were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. acquired a new stake in IAC in the second quarter valued at approximately $362,000. Parkside Investments LLC boosted its holdings in IAC by 7.1% in the second quarter. Parkside Investments LLC now owns 211,902 shares of the company’s stock worth $7,912,000 after purchasing an additional 14,085 shares in the last quarter. GAMMA Investing LLC increased its position in IAC by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after buying an additional 367 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in IAC by 240.3% during the second 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 in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of IAC in the second quarter worth about $894,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Trading Up 0.6%

Shares of IAC stock opened at $34.59 on Friday. The firm has a market capitalization of $2.57 billion, a P/E ratio of -6.42 and a beta of 1.23. IAC Inc. has a 1 year low of $32.04 and a 1 year high of $55.16. The firm’s fifty day simple moving average is $36.08 and its 200 day simple moving average is $37.36. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. During the same period last year, the business posted ($1.71) EPS. The business’s quarterly revenue was down 7.5% on a year-over-year basis. As a group, sell-side analysts predict that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities lowered their price objective on IAC from $64.00 to $47.00 and set a “market outperform” rating on the stock in a report on Tuesday, June 10th. Truist Financial lowered their price target on IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Oppenheimer reduced their price objective on shares of IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Piper Sandler lowered their target price on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a report on Saturday, September 27th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.92.

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.