5 Best Stocks to Buy According to Ari Zweiman’s 683 Capital Partners

2. IAC/InterActiveCorp (NASDAQ:IAC)

683 Capital Partners’ Stake Value: $46,585,000

Percentage of 683 Capital Partners’ 13F Portfolio: 3.29%

Number of Hedge Fund Holders: 39

While 683 Capital Partners upped their stakes in IAC/InterActiveCorp (NASDAQ:IAC) only slightly by 3% during the second quarter, and the stock of the media company lost 25% of its value during that time, IAC/InterActiveCorp (NASDAQ:IAC) still managed to climb up three spots and became 683 Capital Partners second most loved stock at the end of June.

For its fiscal 2022 second quarter, IAC/InterActiveCorp (NASDAQ:IAC) reported a GAAP per share loss of $10.02 on revenue of $1.36 billion on August 9. Analysts had expected the company to report a per share loss of only $1.64 on revenue of $1.383 billion for that period. Following the earnings release, several analysts on Wall Street reduced their price target on IAC/InterActiveCorp’s (NASDAQ:IAC) stock on August 11. Analysts at both Credit Suisse Group and Cowen reiterated their ‘Outperform’ rating, but the former reduced its price target to $121 from $127, and the latter to $124 from $130.