Corient Private Wealth LLC Sells 32,199 Shares of IAC Inc. (NASDAQ:IAC)

Corient Private Wealth LLC trimmed its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 76.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,849 shares of the company's stock after selling 32,199 shares during the quarter. Corient Private Wealth LLC's holdings in IAC were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of IAC in the 4th quarter valued at approximately $41,000. Quarry LP lifted its holdings in shares of IAC by 408.9% in 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 boosted its position in shares of IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after buying an additional 1,916 shares during the period. Allworth Financial LP grew its holdings 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 buying an additional 3,079 shares in the last quarter. Finally, KBC Group NV raised its position in 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 buying an additional 608 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IAC shares. Piper Sandler lowered IAC from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. KeyCorp boosted their price objective on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. UBS Group cut their target price on shares of IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Benchmark decreased their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial dropped their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.31.

Remove Ads

IAC Stock Up 1.9 %

Shares of NASDAQ IAC traded up $0.76 during mid-day trading on Wednesday, reaching $40.02. 1,427,435 shares of the company traded hands, compared to its average volume of 792,088. The company's fifty day moving average is $44.88 and its two-hundred day moving average is $47.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $58.29. The stock has a market cap of $3.10 billion, a PE ratio of -6.14 and a beta of 1.24.

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.