Leuthold Group LLC Sells 2,049 Shares of IAC Inc. (NASDAQ:IAC)

Leuthold Group LLC cut its holdings in shares of IAC Inc. (NASDAQ:IAC) by 3.4% in the 4th quarter, HoldingsChannel reports. The fund owned 58,470 shares of the company’s stock after selling 2,049 shares during the period. Leuthold Group LLC’s holdings in IAC were worth $2,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in IAC by 14.8% in the 4th quarter. Handelsbanken Fonder AB now owns 19,400 shares of the company’s stock valued at $837,000 after buying an additional 2,500 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of IAC by 43.6% in the 4th quarter. CIBC Asset Management Inc now owns 7,293 shares of the company’s stock worth $315,000 after acquiring an additional 2,213 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of IAC by 0.7% in the 4th quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock worth $4,188,000 after acquiring an additional 659 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of IAC by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 343,391 shares of the company’s stock valued at $14,814,000 after purchasing an additional 10,250 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of IAC by 15.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 44,054 shares of the company’s stock valued at $1,900,000 after purchasing an additional 5,916 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IAC shares. Barclays decreased their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group cut their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. KeyCorp raised their target price on IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.67.

IAC Stock Performance

Shares of IAC stock opened at $45.63 on Friday. The firm’s 50 day moving average is $43.07 and its 200 day moving average is $48.08. The stock has a market capitalization of $3.67 billion, a P/E ratio of -7.00 and a beta of 1.32. IAC Inc. has a 12 month low of $39.61 and a 12 month high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

IAC Profile

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.