Bank of New York Mellon Corp Has $21.03 Million Stock Holdings in IAC Inc. (NASDAQ:IAC)

Bank of New York Mellon Corp cut its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 487,520 shares of the company's stock after selling 37,172 shares during the period. Bank of New York Mellon Corp owned 0.61% of IAC worth $21,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company's stock valued at $53,000 after purchasing an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in IAC by 1,398.5% during the 4th 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 during the period. Allworth Financial LP increased its stake in shares of IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after acquiring an additional 3,079 shares during the last quarter. KBC Group NV increased its stake in shares of IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after acquiring an additional 608 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of IAC in the 3rd quarter valued at about $209,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group lowered their price target on IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Barclays lowered their price target on IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Benchmark lowered their price target on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Macquarie reaffirmed an "outperform" rating and issued a $14.00 price target on shares of IAC in a research note on Thursday, November 14th. Finally, Oppenheimer lowered their target price on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Three investment 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $64.67.

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IAC Stock Up 2.4 %

Shares of NASDAQ IAC traded up $1.03 during trading hours on Friday, hitting $44.56. The company had a trading volume of 969,076 shares, compared to its average volume of 742,330. The stock has a market capitalization of $3.45 billion, a P/E ratio of -6.83 and a beta of 1.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. IAC Inc. has a 1-year low of $39.61 and a 1-year high of $58.29. The firm's 50 day moving average is $43.65 and its 200-day moving average is $47.56.

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.