Entropy Technologies LP Boosts Holdings in IAC Inc. (NASDAQ:IAC)

Entropy Technologies LP increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 225.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,447 shares of the company’s stock after purchasing an additional 14,158 shares during the quarter. Entropy Technologies LP’s holdings in IAC were worth $882,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IAC. GAMMA Investing LLC raised its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock valued at $53,000 after buying an additional 492 shares during the period. Quarry LP raised its holdings in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after acquiring an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after purchasing an additional 1,916 shares in the last quarter. KBC Group NV raised its stake in IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after buying an additional 608 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in IAC during the third quarter worth approximately $208,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IAC has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $110.00 price target on shares of IAC in a research report on Tuesday, November 12th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Citigroup lifted their price objective on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and set a $70.00 price target on shares of IAC in a research note on Monday, December 16th. Finally, Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.67.

IAC Trading Down 0.6 %

Shares of IAC opened at $41.37 on Tuesday. The stock has a fifty day moving average of $43.47 and a two-hundred day moving average of $48.39. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a market capitalization of $3.33 billion, a PE ratio of -96.21 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75.

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 return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the business earned ($0.30) EPS. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, analysts forecast that IAC Inc. will post -3.97 EPS for the current year.

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.