Joel Isaacson & Co. LLC Has $9.03 Million Position in IAC Inc. $IAC

Joel Isaacson & Co. LLC reduced its position in IAC Inc. (NASDAQ:IAC) by 25.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 265,098 shares of the company’s stock after selling 90,050 shares during the period. Joel Isaacson & Co. LLC’s holdings in IAC were worth $9,032,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in IAC by 38.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock valued at $19,087,000 after purchasing an additional 115,652 shares during the period. United Services Automobile Association bought a new position in shares of IAC in the first quarter worth $207,000. Empowered Funds LLC lifted its position in IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after purchasing an additional 718 shares during the period. Focus Partners Wealth bought a new stake in shares of IAC during the 1st quarter worth approximately $270,000. Finally, Assenagon Asset Management S.A. acquired a new position in IAC during the second quarter valued at approximately $894,000. 88.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. KeyCorp decreased their price target on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Oppenheimer cut IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research note on Wednesday, October 8th. Jefferies Financial Group lifted their target price on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Benchmark reduced their target price on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

IAC Price Performance

Shares of IAC opened at $38.87 on Wednesday. IAC Inc. has a 12-month low of $29.56 and a 12-month high of $50.49. The stock has a market cap of $2.78 billion, a P/E ratio of -14.24 and a beta of 1.10. The business’s fifty day moving average is $37.40 and its 200 day moving average is $36.44. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative return on equity of 4.61% and a negative net margin of 8.27%.The company had revenue of $589.79 million for the quarter, compared to the consensus estimate of $601.86 million. During the same quarter last year, the company posted ($2.93) EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Sell-side analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.