Clear Harbor Asset Management LLC Has $408,000 Holdings in IAC Inc. (NASDAQ:IAC)

Clear Harbor Asset Management LLC raised its holdings in IAC Inc. (NASDAQ:IAC) by 145.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,466 shares of the company’s stock after acquiring an additional 5,605 shares during the period. Clear Harbor Asset Management LLC’s holdings in IAC were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Quarry LP boosted its stake in IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares during the period. GAMMA Investing LLC lifted its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after purchasing an additional 492 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position 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 buying an additional 1,916 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in shares of IAC during the third quarter worth about $209,000. Finally, Valeo Financial Advisors LLC acquired a new stake in IAC in the 3rd quarter valued at approximately $224,000. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

NASDAQ:IAC opened at $42.27 on Wednesday. IAC Inc. has a 12-month low of $39.61 and a 12-month high of $58.29. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -98.30 and a beta of 1.32. The stock’s 50 day moving average price is $44.93 and its two-hundred day moving average price is $49.10. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter last year, the company posted ($0.30) EPS. The firm’s revenue was down 15.5% on a year-over-year basis. On average, analysts anticipate that IAC Inc. will post -3.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IAC. TD Cowen reduced their price target on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Truist Financial lowered their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $70.00 price objective on shares of IAC in a research note on Monday, December 16th. Finally, UBS Group upgraded IAC to a “hold” rating in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.