Swiss National Bank Sells 152,501 Shares of IAC Inc. (NASDAQ:IAC)

Posted by on May 17th, 2023

Swiss National Bank reduced its holdings in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,500 shares of the company’s stock after selling 152,501 shares during the quarter. Swiss National Bank owned 0.23% of IAC worth $8,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IAC. Nisa Investment Advisors LLC grew its stake in IAC by 1.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,500 shares of the company’s stock worth $688,000 after purchasing an additional 170 shares during the period. Captrust Financial Advisors grew its stake in 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 period. DekaBank Deutsche Girozentrale grew its stake in 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 period. Skandinaviska Enskilda Banken AB publ grew its stake in 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 period. Finally, ETF Managers Group LLC grew its stake in 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 period. 89.08% of the stock is currently owned by institutional investors.

IAC Stock Performance

Shares of IAC stock opened at $58.58 on Wednesday. The business’s fifty day simple moving average is $51.34 and its 200 day simple moving average is $50.42. The firm has a market capitalization of $4.69 billion, a P/E ratio of -9.43 and a beta of 1.13. IAC Inc. has a 12 month low of $41.52 and a 12 month high of $90.68. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC – Get Rating) last issued its quarterly earnings results on Monday, February 13th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.32. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. IAC had a negative return on equity of 4.52% and a negative net margin of 22.35%. As a group, analysts anticipate that IAC Inc. will post -2.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IAC shares. Barclays raised their price objective on IAC from $75.00 to $85.00 in a research note on Thursday, May 11th. Credit Suisse Group raised their price objective on IAC from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of IAC in a research note on Friday, February 10th. Wells Fargo & Company raised their price objective on IAC from $70.00 to $79.00 in a research note on Friday, May 12th. Finally, Oppenheimer raised their price objective on IAC from $70.00 to $75.00 in a research note on Thursday, May 11th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.29.

IAC Profile

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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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