Guggenheim Capital LLC Makes New Investment in IAC Inc. (NASDAQ:IAC)

Guggenheim Capital LLC bought a new position in IAC Inc. (NASDAQ:IAC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,902 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of IAC in the fourth quarter worth $38,817,000. Joel Isaacson & Co. LLC grew its holdings in shares of IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after acquiring an additional 359,327 shares during the period. Highbridge Capital Management LLC grew its holdings in shares of IAC by 223.5% in the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company’s stock worth $15,172,000 after acquiring an additional 242,982 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of IAC by 4,238.5% in the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock worth $9,897,000 after acquiring an additional 224,131 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of IAC in the fourth quarter worth $8,015,000. Institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IAC. Citigroup cut their price objective on IAC from $47.55 to $45.00 and set a “buy” rating for the company in a report on Friday. Truist Financial lowered their target price on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. JMP Securities lowered their target price on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Finally, KeyCorp lifted their target price on IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.15.

IAC Stock Performance

NASDAQ IAC opened at $35.46 on Tuesday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -5.44 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $41.17 and a 200-day moving average price of $44.44. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $58.29.

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.