Sanctuary Advisors LLC Boosts Position in IAC Inc. (NASDAQ:IAC)

Sanctuary Advisors LLC lifted its position in IAC Inc. (NASDAQ:IAC) by 581.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,307 shares of the company’s stock after buying an additional 83,878 shares during the quarter. Sanctuary Advisors LLC’s holdings in IAC were worth $5,291,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IAC. Principal Financial Group Inc. boosted its holdings in IAC by 5,474.2% in the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after purchasing an additional 337,268 shares during the period. DME Capital Management LP purchased a new position in IAC during the second quarter worth about $13,655,000. Bank of New York Mellon Corp increased its stake in IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after acquiring an additional 282,304 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of IAC in the 2nd quarter valued at about $7,200,000. Finally, Marshall Wace LLP bought a new stake in shares of IAC during the 2nd quarter valued at about $5,644,000. 88.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IAC shares. Macquarie reiterated an “outperform” rating and set a $14.00 target price on shares of IAC in a research report on Thursday, November 14th. Truist Financial dropped their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. KeyCorp cut their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. TD Cowen lowered their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and issued a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

IAC Stock Down 3.8 %

Shares of IAC stock opened at $44.47 on Monday. IAC Inc. has a 12-month low of $43.51 and a 12-month high of $58.29. The company’s fifty day simple moving average is $49.88 and its two-hundred day simple moving average is $50.04. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market cap of $3.58 billion, a P/E ratio of -103.42 and a beta of 1.31.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. IAC’s revenue was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. Research analysts anticipate that IAC Inc. will post -3.97 EPS 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.