Eos Management L.P. Sells 15,559 Shares of IAC Inc. (NASDAQ:IAC)

Eos Management L.P. trimmed its holdings in IAC Inc. (NASDAQ:IAC) by 25.5% during the fourth quarter, Holdings Channel reports. The firm owned 45,531 shares of the company’s stock after selling 15,559 shares during the quarter. IAC comprises about 1.1% of Eos Management L.P.’s holdings, making the stock its 18th largest position. Eos Management L.P.’s holdings in IAC were worth $2,385,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IAC. Tandem Capital Management Corp ADV raised its stake in shares of IAC by 7.5% during the 4th quarter. Tandem Capital Management Corp ADV now owns 39,120 shares of the company’s stock worth $2,049,000 after purchasing an additional 2,737 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of IAC by 14.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,962 shares of the company’s stock worth $2,722,000 after purchasing an additional 6,504 shares during the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of IAC during the 4th quarter valued at $203,000. California Public Employees Retirement System raised its position in IAC by 10.4% during the fourth quarter. California Public Employees Retirement System now owns 118,026 shares of the company’s stock valued at $6,182,000 after purchasing an additional 11,110 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of IAC by 14.4% during the 4th quarter. Handelsbanken Fonder AB now owns 11,900 shares of the company’s stock valued at $623,000 after buying an additional 1,500 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group lifted their price objective on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Barclays increased their target price on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. KeyCorp boosted their price target on IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Truist Financial upped their price target on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Stock Up 1.1 %

Shares of NASDAQ:IAC traded up $0.52 during midday trading on Friday, reaching $48.62. The company’s stock had a trading volume of 555,740 shares, compared to its average volume of 546,876. The firm has a market capitalization of $3.89 billion, a P/E ratio of 19.60 and a beta of 1.32. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $69.85. The firm has a 50 day moving average of $52.13 and a 200-day moving average of $50.24.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. On average, research analysts anticipate that IAC Inc. will post -2.02 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.