Handelsinvest Investeringsforvaltning Sells 2,254 Shares of IAC Inc. (NASDAQ:IAC)

Handelsinvest Investeringsforvaltning lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,341 shares of the company’s stock after selling 2,254 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in IAC were worth $232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in IAC during the 4th quarter valued at $39,426,000. Segantii Capital Management Ltd purchased a new position in shares of IAC in the 4th quarter worth $2,881,000. Parkside Investments LLC boosted its stake in shares of IAC by 13.8% in the 4th quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock worth $9,233,000 after buying an additional 21,400 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of IAC by 66.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock worth $52,124,000 after buying an additional 413,440 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of IAC in the 4th quarter worth $2,579,000. Institutional investors own 88.90% of the company’s stock.

IAC Stock Up 1.1 %

NASDAQ:IAC traded up $0.50 during mid-day trading on Wednesday, hitting $46.33. The company’s stock had a trading volume of 25,533 shares, compared to its average volume of 748,247. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. The business’s fifty day moving average is $50.29 and its two-hundred day moving average is $51.51.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.21. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. The business had revenue of $929.68 million for the quarter, compared to analyst estimates of $937.68 million. As a group, sell-side analysts anticipate that IAC Inc. will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IAC shares. StockNews.com downgraded IAC from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Truist Financial lifted their target price on IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Oppenheimer lifted their target price on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Citigroup lowered their target price on IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, KeyCorp lifted their target price on IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

IAC Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.