Regal Partners Ltd Sells 3,024 Shares of IAC Inc. (NASDAQ:IAC)

Regal Partners Ltd decreased its position in IAC Inc. (NASDAQ:IAC) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 188,893 shares of the company’s stock after selling 3,024 shares during the quarter. IAC comprises 0.9% of Regal Partners Ltd’s investment portfolio, making the stock its 28th biggest position. Regal Partners Ltd’s holdings in IAC were worth $10,166,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of IAC in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC boosted its holdings in shares of IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the period. CWM LLC boosted its holdings in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after purchasing an additional 408 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of IAC in the 2nd quarter worth approximately $60,000. Finally, Innealta Capital LLC purchased a new position in shares of IAC in the 2nd quarter worth approximately $146,000. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

IAC has been the subject of a number of recent analyst reports. UBS Group upgraded IAC to a “hold” rating in a report on Monday, October 28th. Benchmark restated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday. Citigroup dropped their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. KeyCorp dropped their price objective on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, Barclays dropped their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have issued 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 target price of $76.60.

IAC Price Performance

Shares of IAC stock opened at $47.01 on Thursday. IAC Inc. has a twelve month low of $43.51 and a twelve month high of $58.29. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.33 and a beta of 1.33. The stock has a fifty day simple moving average of $52.22 and a two-hundred day simple moving average of $50.93. The company has a current ratio of 2.75, a quick ratio of 2.68 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The company had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company’s revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.30) earnings per share. On average, analysts predict that IAC Inc. will post -0.79 EPS for the current fiscal 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.