Grandfield & Dodd LLC Sells 8,952 Shares of IAC Inc. (NASDAQ:IAC)

Grandfield & Dodd LLC lessened its stake in IAC Inc. (NASDAQ:IAC) by 48.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,541 shares of the company’s stock after selling 8,952 shares during the quarter. Grandfield & Dodd LLC’s holdings in IAC were worth $513,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Tandem Capital Management Corp ADV increased its position in IAC by 0.6% in the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after buying an additional 260 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in shares of IAC by 3.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,635 shares of the company’s stock worth $451,000 after acquiring an additional 284 shares during the period. Nisa Investment Advisors LLC increased its holdings in IAC by 2.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company’s stock worth $833,000 after acquiring an additional 405 shares during the last quarter. CWM LLC raised its stake in IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after acquiring an additional 408 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in IAC by 1.6% during the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock valued at $1,705,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $47.65 on Wednesday. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -110.81 and a beta of 1.33. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $51.87 and a 200 day simple moving average of $50.81. IAC Inc. has a 52 week low of $43.51 and a 52 week high of $58.29.

IAC (NASDAQ:IAC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate 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 business had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the previous year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. On average, research analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Macquarie reissued an “outperform” rating and set a $14.00 target price on shares of IAC in a report on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $110.00 price target on shares of IAC in a report on Tuesday, November 12th. Citigroup decreased their price objective on IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.91.

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.