River Global Investors LLP Trims Stock Position in IAC Inc. (NASDAQ:IAC)

River Global Investors LLP cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 40.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,528 shares of the company’s stock after selling 7,804 shares during the quarter. River Global Investors LLP’s holdings in IAC were worth $497,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IAC. Joel Isaacson & Co. LLC increased its holdings in IAC by 553.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after buying an additional 359,327 shares during the period. Proficio Capital Partners LLC increased its holdings in IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock valued at $9,897,000 after buying an additional 224,131 shares during the period. Raymond James Financial Inc. purchased a new position in IAC during the fourth quarter valued at approximately $8,015,000. Empirical Asset Management LLC purchased a new position in IAC during the fourth quarter valued at approximately $7,794,000. Finally, Assenagon Asset Management S.A. grew its holdings in IAC by 452.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock worth $4,438,000 after purchasing an additional 84,259 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IAC has been the topic of several analyst reports. KeyCorp lifted their price target on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Truist Financial cut their price target on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Oppenheimer cut their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group cut their price target on shares of IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup lifted their price target on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $64.67.

IAC Trading Down 0.3 %

NASDAQ IAC opened at $44.09 on Friday. The company has a market capitalization of $3.42 billion, a PE ratio of -6.76 and a beta of 1.29. The company has a fifty day moving average of $43.58 and a 200 day moving average of $47.75. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

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.