Parkside Investments LLC Boosts Stake in IAC Inc. (NASDAQ:IAC)

Parkside Investments LLC increased its position in IAC Inc. (NASDAQ:IAC – Get Rating) by 11.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 139,003 shares of the company’s stock after purchasing an additional 14,545 shares during the period. Parkside Investments LLC’s holdings in IAC were worth $6,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC purchased a new stake in IAC during the 3rd quarter valued at approximately $707,000. Wahed Invest LLC purchased a new stake in IAC during the 2nd quarter valued at approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in IAC during the 2nd quarter valued at approximately $809,000. Treasurer of the State of North Carolina increased its position in IAC by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 33,336 shares of the company’s stock worth $1,846,000 after purchasing an additional 430 shares during the period. Finally, WCM Investment Management LLC acquired a new position in IAC during the 3rd quarter worth approximately $9,844,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on IAC shares. UBS Group upgraded IAC from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Wednesday, February 15th. Barclays boosted their target price on IAC from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Piper Sandler boosted their target price on IAC from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Citigroup boosted their target price on IAC from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of IAC in a research report on Wednesday, February 15th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.13.

IAC Price Performance

IAC stock opened at $50.02 on Friday. IAC Inc. has a 1 year low of $41.52 and a 1 year high of $106.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.37. The stock’s 50 day moving average price is $52.93 and its 200 day moving average price is $51.83. The firm has a market cap of $4.16 billion, a P/E ratio of -3.71 and a beta of 1.13.

IAC (NASDAQ:IAC – Get Rating) last posted its earnings results on Monday, February 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.32. IAC had a negative return on equity of 4.52% and a negative net margin of 22.35%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts expect that IAC Inc. will post -2.16 earnings per share for the current fiscal year.

IAC Profile

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.