Tandem Capital Management Corp ADV Increases Stake in IAC Inc. (NASDAQ:IAC)

Tandem Capital Management Corp ADV boosted its holdings in IAC Inc. (NASDAQ:IAC) by 7.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,120 shares of the company’s stock after buying an additional 2,737 shares during the period. IAC makes up about 1.3% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 25th largest position. Tandem Capital Management Corp ADV’s holdings in IAC were worth $2,049,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Spire Wealth Management lifted its stake in IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares during the last quarter. Covestor Ltd increased its stake in IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares in the last quarter. Headlands Technologies LLC increased its stake in IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after purchasing an additional 768 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in IAC during the 4th quarter valued at about $203,000. Finally, Park Avenue Securities LLC bought a new stake in shares of IAC in the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of IAC stock traded down $1.07 during trading on Thursday, reaching $48.10. The company’s stock had a trading volume of 563,032 shares, compared to its average volume of 546,765. The stock has a 50-day moving average price of $52.29 and a two-hundred day moving average price of $50.24. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC Inc. has a one year low of $41.39 and a one year high of $69.85. The stock has a market capitalization of $3.85 billion, a P/E ratio of 19.40 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. As a group, sell-side analysts anticipate that IAC Inc. will post -2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IAC shares. Barclays boosted their target price on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Truist Financial lifted their price target on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. UBS Group lifted their price target on shares of IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, KeyCorp lifted their price objective on IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.69.

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.