Quarry LP Buys 785 Shares of IAC Inc. (NASDAQ:IAC)

Quarry LP raised its stake in IAC Inc. (NASDAQ:IAC) by 408.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 977 shares of the company’s stock after buying an additional 785 shares during the period. Quarry LP’s holdings in IAC were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Intrepid Capital Management Inc. bought a new position in IAC in the 3rd quarter valued at approximately $1,782,000. Verition Fund Management LLC bought a new position in IAC during the 3rd quarter worth $1,374,000. Captrust Financial Advisors acquired a new position in IAC during the 3rd quarter worth about $282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after buying an additional 66,347 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IAC by 12.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,123 shares of the company’s stock valued at $922,000 after buying an additional 1,901 shares during the period. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $48.41 on Tuesday. The company has a market cap of $3.90 billion, a P/E ratio of -112.58 and a beta of 1.31. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $50.33 and its 200-day moving average price is $50.14. IAC Inc. has a 52-week low of $43.51 and a 52-week high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. IAC’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. As a group, equities analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on IAC shares. KeyCorp reduced their target price on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Benchmark reissued a “buy” rating and issued a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. TD Cowen cut their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Macquarie reiterated an “outperform” rating and issued a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Finally, UBS Group raised shares of IAC to a “hold” rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.36.

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.