Clear Harbor Asset Management LLC Invests $208,000 in IAC Inc. (NASDAQ:IAC)

Clear Harbor Asset Management LLC acquired a new stake in IAC Inc. (NASDAQ:IAC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,861 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors also recently modified their holdings of IAC. International Assets Investment Management LLC bought a new position in IAC in the second quarter worth approximately $39,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 492 shares during the period. CWM LLC increased its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in IAC during the second quarter worth $60,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of IAC in the first quarter valued at $80,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IAC shares. Benchmark reissued a “buy” rating and set a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. JMP Securities assumed coverage on IAC in a report on Tuesday, July 9th. They set an “outperform” rating and a $78.00 price objective for the company. KeyCorp dropped their target price on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Citigroup decreased their price target on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Barclays dropped their price objective on IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, IAC has an average rating of “Moderate Buy” and an average target price of $76.40.

IAC Stock Down 1.1 %

IAC stock opened at $51.15 on Monday. The firm has a 50 day moving average price of $52.35 and a 200-day moving average price of $50.68. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company has a market capitalization of $4.11 billion, a P/E ratio of -23.04 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The firm had revenue of $949.50 million for the quarter, compared to the consensus estimate of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. IAC’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the company posted ($0.76) earnings per share. As a group, equities analysts predict that IAC Inc. will post -0.79 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.