Davis Selected Advisers Trims Holdings in IAC Inc. (NASDAQ:IAC)

Davis Selected Advisers cut its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,635,624 shares of the company's stock after selling 66,518 shares during the quarter. Davis Selected Advisers owned approximately 3.27% of IAC worth $113,701,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC in the fourth quarter worth $41,000. Quarry LP increased its stake in IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after purchasing an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake 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 during the period. Allworth Financial LP boosted its stake 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 during the period. Finally, KBC Group NV increased its stake in shares of IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after buying an additional 608 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen cut their price target on shares of IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. JMP Securities decreased their target price on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. 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 on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler lowered shares of IAC from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $64.67.

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IAC Stock Performance

Shares of NASDAQ:IAC traded up $0.16 during midday trading on Wednesday, reaching $43.94. 1,244,405 shares of the company's stock traded hands, compared to its average volume of 737,408. 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 one year low of $39.61 and a one year high of $58.29. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -6.74 and a beta of 1.29. The stock has a 50 day moving average of $43.62 and a 200 day moving average of $47.62.

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.