FNY Investment Advisers LLC Has $301,000 Stock Position in IAC Inc. $IAC

FNY Investment Advisers LLC decreased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 54.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,073 shares of the company’s stock after selling 9,627 shares during the quarter. FNY Investment Advisers LLC’s holdings in IAC were worth $301,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Bleakley Financial Group LLC increased its stake in shares of IAC by 1.0% during the 1st quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company’s stock worth $1,520,000 after purchasing an additional 324 shares during the last quarter. GAMMA Investing LLC grew its stake in IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock valued at $42,000 after buying an additional 367 shares during the last quarter. US Bancorp DE grew its stake in IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after buying an additional 401 shares during the last quarter. TD Private Client Wealth LLC grew its stake in IAC by 282.2% in the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after buying an additional 429 shares during the last quarter. Finally, Covestor Ltd grew its stake in IAC by 35.4% in the 1st quarter. Covestor Ltd now owns 2,378 shares of the company’s stock valued at $110,000 after buying an additional 622 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IAC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Benchmark lowered their target price on shares of IAC from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. UBS Group raised their target price on shares of IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a research note on Wednesday, October 8th. Finally, Truist Financial lowered their target price on shares of IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

IAC Trading Down 0.9%

Shares of IAC opened at $33.67 on Thursday. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.16. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -6.25 and a beta of 1.23. The stock’s 50-day moving average price is $35.16 and its 200 day moving average price is $36.30.

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

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.