Oppenheimer & Co. Inc. Raises Position in IAC Inc. (NASDAQ:IAC)

Posted by on May 13th, 2023

Oppenheimer & Co. Inc. grew its holdings in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,147 shares of the company’s stock after purchasing an additional 2,007 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in IAC were worth $628,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in IAC. Nisa Investment Advisors LLC increased its holdings in IAC by 1.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,500 shares of the company’s stock valued at $688,000 after purchasing an additional 170 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of IAC by 3.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the company’s stock worth $416,000 after purchasing an additional 246 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of IAC by 3.1% during the first quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock worth $808,000 after purchasing an additional 246 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of IAC by 2.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 12,868 shares of the company’s stock worth $713,000 after purchasing an additional 260 shares during the last quarter. Finally, ETF Managers Group LLC lifted its position in shares of IAC by 4.0% during the third quarter. ETF Managers Group LLC now owns 6,832 shares of the company’s stock worth $378,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays increased their price target on shares of IAC from $75.00 to $85.00 in a research report on Thursday. The Goldman Sachs Group cut their target price on shares of IAC from $83.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. Oppenheimer raised their target price on shares of IAC from $70.00 to $75.00 in a report on Thursday. Citigroup lifted their price target on IAC from $64.00 to $71.00 in a report on Friday. Finally, Credit Suisse Group raised their price objective on shares of IAC from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, IAC has a consensus rating of “Moderate Buy” and an average price target of $82.29.

IAC Trading Down 2.0 %

IAC stock opened at $57.84 on Friday. The firm’s 50 day moving average price is $51.11 and its two-hundred day moving average price is $50.27. IAC Inc. has a 1 year low of $41.52 and a 1 year high of $90.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -4.28 and a beta of 1.13.

IAC (NASDAQ:IAC – Get Rating) last posted its quarterly earnings results on Monday, February 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.32. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. IAC had a negative net margin of 22.35% and a negative return on equity of 4.52%. On average, research analysts predict that IAC Inc. will post -2.15 EPS for the current fiscal year.

About IAC

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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