Chemistry Wealth Management LLC Buys 3,949 Shares of IAC Inc. (NASDAQ:IAC)

Chemistry Wealth Management LLC boosted its holdings in IAC Inc. (NASDAQ:IAC) by 27.1% in the first quarter, Holdings Channel reports. The firm owned 18,541 shares of the company’s stock after purchasing an additional 3,949 shares during the quarter. Chemistry Wealth Management LLC’s holdings in IAC were worth $989,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in IAC in the first quarter valued at $27,000. Covestor Ltd grew its position in IAC by 15.4% in the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after purchasing an additional 286 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in IAC in the fourth quarter valued at $203,000. Capstone Investment Advisors LLC bought a new position in IAC in the fourth quarter valued at $209,000. Finally, Brown Advisory Inc. bought a new position in IAC in the fourth quarter valued at $209,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup decreased their price objective on shares of IAC from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Company lifted their price objective on shares of IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. StockNews.com downgraded shares of IAC from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. KeyCorp lifted their price objective on shares of IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Truist Financial lifted their price objective on shares of IAC from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.92.

IAC Stock Performance

IAC stock traded down $0.23 during midday trading on Wednesday, hitting $46.36. The company’s stock had a trading volume of 674,457 shares, compared to its average volume of 754,121. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $69.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. The company has a 50-day moving average price of $50.40 and a two-hundred day moving average price of $51.61. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -29.34 and a beta of 1.34.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.21. The company had revenue of $929.68 million during the quarter, compared to analysts’ expectations of $937.68 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. As a group, sell-side analysts predict that IAC Inc. will post 0.09 earnings per share 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.