Tandem Capital Management Corp ADV Sells 678 Shares of IAC Inc. (NASDAQ:IAC)

Tandem Capital Management Corp ADV cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,364 shares of the company’s stock after selling 678 shares during the quarter. Tandem Capital Management Corp ADV owned 0.06% of IAC worth $1,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DAVENPORT & Co LLC lifted its stake in IAC by 5.1% during the fourth quarter. DAVENPORT & Co LLC now owns 43,545 shares of the company’s stock worth $1,879,000 after purchasing an additional 2,118 shares during the last quarter. KBC Group NV boosted its stake in IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after buying an additional 608 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in IAC by 145.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,466 shares of the company’s stock worth $408,000 after buying an additional 5,605 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after acquiring an additional 1,916 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in shares of IAC in the 4th quarter worth approximately $7,794,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IAC shares. Truist Financial decreased their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a research note on Tuesday, November 12th. Piper Sandler cut IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Barclays decreased their price target on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, KeyCorp dropped their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.67.

IAC Stock Performance

Shares of NASDAQ IAC opened at $41.52 on Tuesday. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $44.00 and its 200-day moving average price is $48.72. IAC Inc. has a 52-week low of $39.61 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 the consensus estimate of ($0.20) by ($2.73). IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current year.

IAC Company 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.