Should You Consider Integral IAC (IAC) for Investment?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.21% (net), compared to -0.65% for the Russell Midcap Growth Index. Strength in Consumer Discretionary, Energy, Financials, Industrials, Information Technology, and Materials sectors contributed to the performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like IAC Inc. (NASDAQ:IAC) in the Q3 2022 investor letter. Headquartered in New York, New York, IAC Inc. (NASDAQ:IAC) is a global media and internet company. On December 22, 2022, IAC Inc. (NASDAQ:IAC) stock closed at $42.85 per share. One-month return of IAC Inc. (NASDAQ:IAC) was -9.69% and its shares lost 65.57% of their value over the last 52 weeks. IAC Inc. (NASDAQ:IAC) has a market capitalization of $3.807 billion.

TimesSquare Capital made the following comment about IAC Inc. (NASDAQ:IAC) in its Q3 2022 investor letter:

“In Communication Services, global media and Internet conglomerate IAC Inc. (NASDAQ:IAC) tumbled -27%. It operates through four business segments: Angi is a leader in digital home services, Dotdash Meredith is the largest digital and print publisher in the U.S., IAC’s Search includes Ask.com as a broad collection of reference websites, and Emerging & Other is comprised of investments in early-stage companies. Overall second quarter results were in line with sell-side projections, though underlying business segments were mixed. Angi generated revenues above sell-side projections, Dotdash Meredith fell short, Search decelerated, while Emerging & Other generated a modest improvement.”

Photo by ThisisEngineering RAEng on Unsplash

IAC Inc. (NASDAQ:IAC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held IAC Inc. (NASDAQ:IAC) at the end of the third quarter, which was 39 in the previous quarter.

We discussed IAC Inc. (NASDAQ:IAC) in another article and shared the best media stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.