IAC Inc. $IAC is Yakira Capital Management Inc.’s 8th Largest Position

Yakira Capital Management Inc. raised its holdings in IAC Inc. (NASDAQ:IAC) by 24.8% in the third quarter, Holdings Channel reports. The fund owned 223,078 shares of the company’s stock after buying an additional 44,267 shares during the period. IAC accounts for approximately 2.7% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Yakira Capital Management Inc.’s holdings in IAC were worth $7,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of IAC in the second quarter valued at approximately $2,924,000. Permanent Capital Management LP acquired a new stake in shares of IAC in the third quarter valued at approximately $1,732,000. AlphaQuest LLC lifted its position in IAC by 1,127.5% during the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after buying an additional 37,896 shares in the last quarter. JPMorgan Chase & Co. lifted its position in IAC by 20.5% during the second quarter. JPMorgan Chase & Co. now owns 6,568,927 shares of the company’s stock worth $245,284,000 after buying an additional 1,117,313 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in IAC during the third quarter worth $875,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Down 2.2%

Shares of NASDAQ:IAC opened at $37.87 on Monday. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -28.47 and a beta of 1.09. IAC Inc. has a 12-month low of $29.56 and a 12-month high of $50.49. The business has a 50-day moving average price of $37.85 and a 200 day moving average price of $36.16. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The company had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. IAC had a negative net margin of 4.35% and a negative return on equity of 2.43%. The company’s quarterly revenue was down 34.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.39) EPS. Sell-side analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

IAC has been the subject of a number of recent research reports. Zacks Research downgraded IAC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. UBS Group reissued a “neutral” rating and set a $42.00 price target on shares of IAC in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Wall Street Zen upgraded shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research note on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $47.62.

IAC Company Profile

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.