Helikon Investments Ltd Invests $76.06 Million in IAC Inc. $IAC

Helikon Investments Ltd acquired a new stake in shares of IAC Inc. (NASDAQ:IAC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,036,840 shares of the company’s stock, valued at approximately $76,056,000. IAC comprises approximately 4.7% of Helikon Investments Ltd’s holdings, making the stock its 7th biggest position. Helikon Investments Ltd owned 2.74% of IAC at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of IAC by 48.5% during the second 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. Farther Finance Advisors LLC boosted its holdings in IAC by 240.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock worth $44,000 after acquiring an additional 829 shares during the last quarter. Atticus Wealth Management LLC bought a new stake in shares of IAC in the 2nd quarter worth $51,000. North Capital Inc. bought a new stake in shares of IAC in the 2nd quarter worth $75,000. Finally, US Bancorp DE raised its holdings in shares of IAC by 21.9% in the first quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after purchasing an additional 401 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Stock Up 1.0%

IAC stock opened at $34.14 on Thursday. The stock has a fifty day moving average of $34.28 and a 200-day moving average of $36.24. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $50.49. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -12.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.56 and a current ratio of 2.56.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The business had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. IAC’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the company earned ($2.93) earnings per share. As a group, equities research analysts predict that IAC Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group cut their price target on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Oppenheimer reduced their target price on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Truist Financial decreased their price target on IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays cut their price objective on IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

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.