IAC Inc. $IAC Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. decreased its holdings in IAC Inc. (NASDAQ:IAC) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,501,914 shares of the company’s stock after selling 15,883 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 3.49% of IAC worth $91,620,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IAC. Oregon Public Employees Retirement Fund increased its holdings in IAC by 2.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after purchasing an additional 300 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of IAC by 0.5% during 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 buying an additional 410 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of IAC by 3.3% in the third quarter. Nisa Investment Advisors LLC now owns 15,182 shares of the company’s stock worth $517,000 after buying an additional 482 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in IAC by 2.3% in the third quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company’s stock valued at $1,060,000 after acquiring an additional 700 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in IAC by 9.8% during the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after acquiring an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their target price 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. Zacks Research cut IAC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 10th. Oppenheimer downgraded IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their price target on IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, Needham & Company LLC set a $57.00 price target on IAC in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.62.

IAC Trading Up 1.4%

Shares of NASDAQ IAC opened at $38.19 on Thursday. IAC Inc. has a 12-month low of $29.56 and a 12-month high of $50.49. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -28.71 and a beta of 1.09. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $37.92 and its 200 day simple moving average is $36.12.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of $0.67 by ($1.66). IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The company had revenue of $645.98 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities research analysts expect that IAC Inc. will post 0.43 EPS for the current year.

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.