Boyar Asset Management Inc. Has $904,000 Position in IAC Inc. (NASDAQ:IAC)

Boyar Asset Management Inc. grew its holdings in IAC Inc. (NASDAQ:IAC) by 51.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,302 shares of the company’s stock after buying an additional 6,587 shares during the quarter. Boyar Asset Management Inc.’s holdings in IAC were worth $904,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in IAC in the 4th quarter worth approximately $2,579,000. Victory Capital Management Inc. raised its position in shares of IAC by 21.8% during the fourth quarter. Victory Capital Management Inc. now owns 23,988 shares of the company’s stock worth $1,256,000 after acquiring an additional 4,294 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of IAC by 1.5% during the fourth quarter. Natixis Advisors L.P. now owns 76,988 shares of the company’s stock valued at $4,032,000 after acquiring an additional 1,126 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in IAC by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 838,184 shares of the company’s stock valued at $43,904,000 after acquiring an additional 25,988 shares during the last quarter. Finally, Jump Financial LLC increased its position in IAC by 471.9% in the fourth quarter. Jump Financial LLC now owns 26,148 shares of the company’s stock worth $1,370,000 after purchasing an additional 21,576 shares during the period. 88.90% of the stock is owned by institutional investors.

IAC Stock Performance

Shares of IAC stock opened at $50.30 on Friday. The stock’s fifty day simple moving average is $50.03 and its 200 day simple moving average is $50.86. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.04 billion, a PE ratio of -31.84 and a beta of 1.32. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.39). IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The business had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. During the same period in the prior year, the business earned ($0.76) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, research analysts predict that IAC Inc. will post -0.79 EPS for the current year.

Analyst Upgrades and Downgrades

IAC has been the topic of several recent research reports. JMP Securities assumed coverage on shares of IAC in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 target price on the stock. StockNews.com cut shares of IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Wells Fargo & Company upped their target price on shares of IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. KeyCorp cut their price target on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, Truist Financial lifted their price objective on IAC from $87.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and an average target price of $76.40.

About IAC

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.