Greenwich Wealth Management LLC Purchases 284 Shares of IAC Inc. (NASDAQ:IAC)

Greenwich Wealth Management LLC lifted its holdings in shares of IAC Inc. (NASDAQ:IAC) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,635 shares of the company’s stock after purchasing an additional 284 shares during the quarter. Greenwich Wealth Management LLC’s holdings in IAC were worth $451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. WINTON GROUP Ltd acquired a new position in shares of IAC during the second quarter valued at about $900,000. Thompson Siegel & Walmsley LLC grew its holdings in shares of IAC by 5.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock worth $76,527,000 after purchasing an additional 79,951 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of IAC by 5.9% in the second quarter. American Century Companies Inc. now owns 17,627 shares of the company’s stock valued at $826,000 after buying an additional 988 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in IAC during the 2nd quarter worth about $1,579,000. Finally, Texas Permanent School Fund Corp bought a new stake in shares of IAC during the second quarter valued at approximately $2,442,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Trading Up 1.8 %

IAC stock opened at $52.24 on Monday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -33.06 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a 50-day moving average of $50.48 and a 200-day moving average of $50.57. IAC Inc. has a one year low of $41.39 and a one year high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm had revenue of $949.50 million during the quarter, compared to the consensus estimate of $942.77 million. During the same period in the previous year, the company posted ($0.76) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities analysts expect that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on IAC. Truist Financial lifted their target price on shares of IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a research note on Tuesday, August 27th. Citigroup lowered their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays decreased their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.40.

About IAC

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.