Highbridge Capital Management LLC Buys 197,590 Shares of IAC Inc. $IAC

Highbridge Capital Management LLC grew its stake in IAC Inc. (NASDAQ:IAC) by 68.9% in the third quarter, HoldingsChannel reports. The fund owned 484,325 shares of the company’s stock after acquiring an additional 197,590 shares during the period. Highbridge Capital Management LLC’s holdings in IAC were worth $16,501,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. North Capital Inc. acquired a new position in IAC during the 2nd quarter valued at about $75,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of IAC in the 2nd quarter valued at about $83,000. Geneos Wealth Management Inc. boosted its stake in IAC by 96.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock worth $114,000 after acquiring an additional 1,500 shares during the last quarter. United Services Automobile Association acquired a new stake in IAC in the first quarter worth $207,000. Finally, Atria Investments Inc lifted its holdings in IAC by 18.7% during the second quarter. Atria Investments Inc now owns 5,666 shares of the company’s stock worth $212,000 after acquiring an additional 891 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research lowered IAC from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. lifted their price objective on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Jefferies Financial Group raised their price target on IAC from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup increased their target price on IAC from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, Oppenheimer lowered IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

IAC Price Performance

IAC stock opened at $37.40 on Friday. The stock’s fifty day moving average price is $38.27 and its two-hundred day moving average price is $35.98. The firm has a market cap of $2.68 billion, a PE ratio of -28.12 and a beta of 1.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.56. IAC Inc. has a one year low of $29.56 and a one year high of $50.49.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The firm had revenue of $645.98 million during the quarter, compared to the consensus estimate of $641.01 million. During the same period in the prior year, the business earned ($2.39) earnings per share. IAC’s quarterly revenue was down 34.7% compared to the same quarter last year. As a group, research analysts expect that IAC Inc. will post 0.43 EPS 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.