SG Americas Securities LLC Sells 16,099 Shares of IAC Inc. $IAC

SG Americas Securities LLC lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 70.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,867 shares of the company’s stock after selling 16,099 shares during the quarter. SG Americas Securities LLC’s holdings in IAC were worth $234,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in shares of IAC by 0.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock valued at $1,896,000 after buying an additional 316 shares in the last quarter. GAMMA Investing LLC grew its stake in IAC by 48.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company’s stock worth $42,000 after buying an additional 367 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in IAC by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock worth $2,854,000 after acquiring an additional 410 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of IAC by 2.3% during the third quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company’s stock worth $1,060,000 after acquiring an additional 700 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after acquiring an additional 718 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark lowered their price target on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Truist Financial cut their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. Jefferies Financial Group lifted their price target on IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. upped their price objective on IAC from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

IAC Trading Down 2.2%

Shares of IAC opened at $38.42 on Thursday. The firm’s fifty day moving average is $38.15 and its two-hundred day moving average is $36.45. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.75 billion, a PE ratio of -14.07 and a beta of 1.10. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $50.49.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $589.79 million during the quarter, compared to analysts’ expectations of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. IAC’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the company earned ($2.93) earnings per share. Research analysts forecast that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

About IAC

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data?driven journalism across more than a dozen specialty sites.