Billionaire Mason Hawkins’ 5 Stock Picks with Huge Upside Potential

2. IAC Inc (NASDAQ:IAC)

Number of Hedge Fund Investors: 44

Average Analyst Price Estimate: $71

Upside Potential: 40.69%

According to Yahoo Finance, average analyst price target for IAC Inc (NASDAQ:IAC) over the next 12 months is $71 while the stock was trading at around $49.

Billionaire Mason Hawkins owns a $117 million stake in IAC Inc (NASDAQ:IAC) as of the end of the third quarter of 2023.

In November IAC Inc (NASDAQ:IAC) posted third quarter results. GAAP EPS in the period came in at -$4.72, missing estimates by $4.17. Revenue in the period fell 14.6% year over year to $1.11 billion, meeting estimates.

TimesSquare Capital U.S. Mid Cap Growth Strategy made the following comment about IAC Inc. (NASDAQ:IAC) in its Q3 2023 investor letter:

“For the Communications Services sector, we generally prefer to invest in media and services companies that are either well placed from an advertising perspective with a target audience or provide differentiated services. IAC Inc. (NASDAQ:IAC) is engaged in the media and Internet business. Its two core business segments are Dotdash Meredith and ANGI Homeservices. Dotdash Meredith provides digital and print publishing services. ANGI Homeservices offers a gateway to repair, remodeling, cleaning, and other services. While Dotdash Meredith results were in line, ANGI fell short of expectations as they are shifting their focus to high-quality customers to generate more profitability. Shares of IAC fell -20% on this report and we added to the position on weakness.”