Artisan Partners Limited Partnership Sells 32,410 Shares of IAC Inc. (NASDAQ:IAC)

Artisan Partners Limited Partnership reduced its position in IAC Inc. (NASDAQ:IACFree Report) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 965,204 shares of the company’s stock after selling 32,410 shares during the period. Artisan Partners Limited Partnership owned 1.21% of IAC worth $48,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in IAC during the 3rd quarter valued at about $295,000. HighTower Advisors LLC increased its position in shares of IAC by 1.9% during the third quarter. HighTower Advisors LLC now owns 36,843 shares of the company’s stock valued at $1,836,000 after buying an additional 682 shares during the period. Pathstone Family Office LLC increased its position in shares of IAC by 11.3% during the third quarter. Pathstone Family Office LLC now owns 4,719 shares of the company’s stock valued at $238,000 after buying an additional 478 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of IAC by 33.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 812,196 shares of the company’s stock valued at $40,927,000 after buying an additional 203,839 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of IAC by 1.6% during the third quarter. Gamco Investors INC. ET AL now owns 22,802 shares of the company’s stock valued at $1,149,000 after buying an additional 350 shares during the period. 85.60% of the stock is currently owned by institutional investors.

IAC Price Performance

Shares of IAC stock opened at $52.94 on Friday. The firm has a market cap of $4.24 billion, a P/E ratio of -42.69 and a beta of 1.31. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $69.85. The business’s 50 day moving average price is $51.17 and its 200-day moving average price is $51.64. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.16 and a current ratio of 2.16.

IAC (NASDAQ:IACGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.21. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. IAC had a negative return on equity of 3.46% and a negative net margin of 1.39%. On average, equities research analysts anticipate that IAC Inc. will post -3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on IAC from $74.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, November 9th. KeyCorp decreased their target price on IAC from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, November 27th. Benchmark decreased their target price on IAC from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. UBS Group decreased their target price on IAC from $66.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 17th. Finally, Truist Financial reduced their target price on IAC from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

View Our Latest Analysis on IAC

About IAC

(Free Report)

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.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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