Truist Financial Corp lifted its position in shares of IAC Inc. (NASDAQ:IAC – Free Report) by 41.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 201,666 shares of the company’s stock after buying an additional 59,146 shares during the quarter. Truist Financial Corp owned approximately 0.25% of IAC worth $10,406,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in IAC. National Bank of Canada FI increased its position in IAC by 2,355.2% during the 1st quarter. National Bank of Canada FI now owns 712 shares of the company’s stock worth $35,000 after purchasing an additional 683 shares in the last quarter. Quent Capital LLC increased its position in IAC by 53.8% during the 1st quarter. Quent Capital LLC now owns 732 shares of the company’s stock worth $38,000 after purchasing an additional 256 shares in the last quarter. Parallel Advisors LLC increased its position in IAC by 94.4% during the 1st quarter. Parallel Advisors LLC now owns 801 shares of the company’s stock worth $41,000 after purchasing an additional 389 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in IAC during the 4th quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new stake in IAC during the 1st quarter worth about $65,000. Institutional investors and hedge funds own 85.46% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on IAC shares. Barclays lifted their price objective on IAC from $75.00 to $85.00 in a research report on Thursday, May 11th. Oppenheimer lifted their price target on IAC from $70.00 to $75.00 in a report on Thursday, May 11th. UBS Group lifted their price target on IAC from $54.00 to $61.00 in a report on Thursday, May 11th. KeyCorp lifted their price target on IAC from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group boosted their target price on IAC from $70.00 to $80.00 in a report on Thursday, May 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average price target of $83.60.
Get Our Latest Stock Report on IAC
IAC Price Performance
Shares of IAC opened at $56.14 on Thursday. The company has a market cap of $4.49 billion, a P/E ratio of -9.04 and a beta of 1.18. The stock has a fifty day moving average price of $63.82 and a 200 day moving average price of $56.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.38 and a quick ratio of 2.38. IAC Inc. has a 12 month low of $41.52 and a 12 month high of $79.57.
IAC (NASDAQ:IAC – Get Free Report) last issued its quarterly earnings data on Tuesday, May 9th. The company reported ($2.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($1.04). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. IAC had a negative return on equity of 5.97% and a negative net margin of 10.34%. On average, research analysts forecast that IAC Inc. will post -3.33 earnings per share 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.
Further Reading
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