Entropy Technologies LP Grows Position in IAC Inc. (NASDAQ:IAC)

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

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

IAC Stock Performance

NASDAQ IAC opened at $41.37 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. IAC Inc. has a 1-year low of $39.61 and a 1-year high of $58.29. The company has a market cap of $3.33 billion, a PE ratio of -96.21 and a beta of 1.32. The stock’s 50 day simple moving average is $43.47 and its 200-day simple moving average is $48.39.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $922.62 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s revenue was down 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that IAC Inc. will post -3.97 EPS for the current fiscal year.

Analysts Set New Price Targets

IAC has been the subject of several recent research reports. KeyCorp reduced their price target on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. UBS Group raised shares of IAC to a “hold” rating in a report on Monday, October 28th. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Macquarie reaffirmed an “outperform” rating and issued a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Finally, Truist Financial lowered their price objective on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

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.