Global Endowment Management LP Sells 2,909 Shares of IAC Inc. (NASDAQ:IAC)

Global Endowment Management LP decreased its stake in shares of IAC Inc. (NASDAQ:IAC) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,320 shares of the company’s stock after selling 2,909 shares during the quarter. Global Endowment Management LP’s holdings in IAC were worth $877,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in IAC. Commonwealth Equity Services LLC raised its stake in shares of IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after buying an additional 320 shares in the last quarter. Aster Capital Management DIFC Ltd increased its stake in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Illinois Municipal Retirement Fund raised its position in IAC by 1.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock worth $1,654,000 after purchasing an additional 531 shares in the last quarter. KBC Group NV lifted its stake in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in IAC by 0.7% during the fourth quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock valued at $4,188,000 after purchasing an additional 659 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Down 3.0 %

NASDAQ IAC opened at $32.75 on Thursday. The stock has a market capitalization of $2.54 billion, a P/E ratio of -5.02 and a beta of 1.24. IAC Inc. has a 52 week low of $32.05 and a 52 week high of $58.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a fifty day moving average of $42.94 and a 200-day moving average of $45.53.

Analyst Upgrades and Downgrades

IAC has been the subject of several analyst reports. Benchmark cut their target price on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Oppenheimer reduced their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. KeyCorp upped their target price on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. UBS Group cut their price target on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $60.00 price objective on shares of IAC in a research note on Friday, March 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

IAC Company 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.