Empirical Asset Management LLC Makes New Investment in IAC Inc. (NASDAQ:IAC)

Empirical Asset Management LLC purchased a new position in shares of IAC Inc. (NASDAQ:IAC) during the 4th quarter, Holdings Channel.com reports. The fund purchased 180,673 shares of the company’s stock, valued at approximately $7,794,000.

Several other large investors have also recently made changes to their positions in IAC. Quarry LP grew its holdings in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares during the last quarter. GAMMA Investing LLC lifted its stake in IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in IAC during the third quarter valued at about $208,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of IAC during the third quarter valued at about $209,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of IAC in the third quarter worth about $224,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Trading Up 0.6 %

IAC stock opened at $42.85 on Friday. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The business’s 50 day moving average price is $45.64 and its two-hundred day moving average price is $49.16. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate 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 for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.30) earnings per share. Sell-side analysts forecast that IAC Inc. will post -3.97 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $70.00 target price on shares of IAC in a report on Monday, December 16th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. Finally, KeyCorp lowered their price objective on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and an average price target of $67.50.

IAC 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.