Davis Selected Advisers Decreases Stake in IAC Inc. (NASDAQ:IAC)

Davis Selected Advisers lessened its stake in IAC Inc. (NASDAQ:IAC – Get Rating) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,837,370 shares of the company’s stock after selling 87,531 shares during the quarter. Davis Selected Advisers owned about 2.21% of IAC worth $81,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IAC. Lindbrook Capital LLC increased its stake in IAC by 92.8% in the 4th quarter. Lindbrook Capital LLC now owns 698 shares of the company’s stock worth $31,000 after purchasing an additional 336 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of IAC during the fourth quarter valued at approximately $36,000. Toronto Dominion Bank grew its position in IAC by 103.8% in the third quarter. Toronto Dominion Bank now owns 807 shares of the company’s stock valued at $45,000 after acquiring an additional 411 shares during the period. Maj Invest Holding A S boosted its stake in IAC by 180.0% in the fourth quarter. Maj Invest Holding A S now owns 1,400 shares of the company’s stock worth $62,000 after purchasing an additional 900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in IAC in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IAC. Citigroup increased their price target on IAC from $64.00 to $71.00 in a report on Friday, May 12th. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of IAC in a research note on Friday, February 10th. StockNews.com began coverage on IAC in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Credit Suisse Group lifted their price target on IAC from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Finally, The Goldman Sachs Group cut their price objective on IAC from $83.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.13.

IAC Stock Performance

Shares of NASDAQ:IAC traded up $0.08 on Friday, hitting $55.75. 188,028 shares of the company were exchanged, compared to its average volume of 806,051. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $52.47 and its 200 day moving average price is $50.91. IAC Inc. has a 1-year low of $41.52 and a 1-year high of $90.68.

IAC (NASDAQ:IAC – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($2.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($1.04). IAC had a negative net margin of 10.34% and a negative return on equity of 5.97%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Equities analysts expect that IAC Inc. will post -2.84 earnings per share for the current year.

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.