IAC Inc. $IAC Shares Acquired by Patient Capital Management LLC

Patient Capital Management LLC grew its position in IAC Inc. (NASDAQ:IAC) by 21.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,108,245 shares of the company’s stock after purchasing an additional 369,239 shares during the quarter. IAC makes up 2.9% of Patient Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Patient Capital Management LLC’s holdings in IAC were worth $71,828,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IAC. Quantbot Technologies LP acquired a new position in shares of IAC in the 2nd quarter valued at $2,924,000. Levin Capital Strategies L.P. lifted its stake in IAC by 503.3% in the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock valued at $16,077,000 after buying an additional 359,180 shares during the last quarter. Permanent Capital Management LP purchased a new position in IAC during the 3rd quarter worth $1,732,000. JPMorgan Chase & Co. grew its holdings in shares of IAC by 20.5% during the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after buying an additional 1,117,313 shares during the last quarter. Finally, Blueshift Asset Management LLC raised its stake in shares of IAC by 227.7% during the second quarter. Blueshift Asset Management LLC now owns 51,697 shares of the company’s stock worth $1,930,000 after purchasing an additional 35,922 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

Shares of NASDAQ 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 company has a market cap of $2.78 billion, a PE ratio of -14.24 and a beta of 1.10. The stock has a 50 day simple moving average of $37.40 and a 200-day simple moving average of $36.44. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.29.

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

Analysts Set New Price Targets

Several research analysts have issued reports on IAC shares. Jefferies Financial Group increased their price objective on IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Benchmark lowered their price target on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. KeyCorp decreased their target price on IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IAC in a research report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.67.

IAC 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.