AlphaQuest LLC Has $1.41 Million Stock Position in IAC Inc. $IAC

AlphaQuest LLC boosted its stake in IAC Inc. (NASDAQ:IAC) by 1,127.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,257 shares of the company’s stock after purchasing an additional 37,896 shares during the quarter. AlphaQuest LLC’s holdings in IAC were worth $1,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in IAC during the second quarter valued at approximately $2,924,000. Permanent Capital Management LP bought a new stake in IAC in the third quarter worth $1,732,000. Levin Capital Strategies L.P. boosted its position in IAC by 503.3% during the second quarter. Levin Capital Strategies L.P. now owns 430,552 shares of the company’s stock valued at $16,077,000 after buying an additional 359,180 shares during the period. JPMorgan Chase & Co. boosted its holdings in IAC by 20.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock valued at $245,284,000 after acquiring an additional 1,117,313 shares during the period. Finally, Jump Financial LLC bought a new position in IAC during the 2nd quarter worth approximately $12,910,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the subject of several recent research reports. Benchmark lowered their price objective on IAC from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. Jefferies Financial Group boosted 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. KeyCorp reduced their price objective on shares of IAC from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Finally, UBS Group reduced their target price on IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Ten investment 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. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and a consensus target price of $46.67.

IAC Trading Down 1.8%

Shares of IAC stock opened at $36.95 on Friday. The firm has a fifty day moving average price of $38.36 and a 200-day moving average price of $36.40. IAC Inc. has a 1 year low of $29.56 and a 1 year high of $50.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.56 and a quick ratio of 2.56. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -13.53 and a beta of 1.10.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The firm had revenue of $589.79 million for the quarter, compared to the consensus estimate of $601.86 million. During the same quarter in the previous year, the business earned ($2.93) earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, equities analysts predict that IAC Inc. will post 0.43 earnings per share for the current 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.