Empowered Funds LLC Makes New $316,000 Investment in IAC Inc. (NASDAQ:IAC)

Empowered Funds LLC acquired a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,319 shares of the company's stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company's stock valued at $833,000 after purchasing an additional 405 shares during the period. Victory Capital Management Inc. grew its position in IAC by 1.6% in the third quarter. Victory Capital Management Inc. now owns 31,686 shares of the company's stock valued at $1,705,000 after acquiring an additional 490 shares during the period. Oppenheimer Asset Management Inc. grew its position in IAC by 2.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company's stock valued at $1,179,000 after acquiring an additional 597 shares during the period. KBC Group NV grew its position in IAC by 22.8% in the fourth 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 period. Finally, Franklin Resources Inc. grew its position in IAC by 6.7% in the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock valued at $577,000 after acquiring an additional 686 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IAC has been the topic of a number of analyst reports. Oppenheimer lowered their price target on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. KeyCorp upped their price target on IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group lowered their price target on IAC from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Benchmark lowered their price target on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen decreased their target price on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, IAC presently has a consensus rating of "Moderate Buy" and an average target price of $64.67.

IAC Trading Down 1.6 %

IAC stock traded down $0.74 during mid-day trading on Friday, hitting $45.63. The stock had a trading volume of 1,083,391 shares, compared to its average volume of 921,341. The stock has a 50-day simple moving average of $43.09 and a two-hundred day simple moving average of $48.08. The stock has a market capitalization of $3.67 billion, a PE ratio of -7.00 and a beta of 1.32. IAC Inc. has a 12 month low of $39.61 and a 12 month high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

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.