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

River Global Investors LLP trimmed its stake in IAC Inc. (NASDAQ:IAC) by 40.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,528 shares of the company’s stock after selling 7,804 shares during the period. River Global Investors LLP’s holdings in IAC were worth $497,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in IAC in the 4th quarter worth $41,000. Quarry LP grew its position in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after purchasing an additional 1,916 shares in the last quarter. KBC Group NV grew its position in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after purchasing an additional 608 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after purchasing an additional 3,079 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IAC. JMP Securities cut their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and cut their price objective 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 for the company in a research report on Thursday, February 13th. KeyCorp raised their price objective on IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Oppenheimer lowered their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

IAC Stock Down 0.3 %

Shares of NASDAQ IAC opened at $44.09 on Friday. The company has a market cap of $3.42 billion, a P/E ratio of -6.76 and a beta of 1.29. The firm has a 50-day simple moving average of $43.58 and a two-hundred day simple 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.