Heritage Investors Management Corp Reduces Stock Holdings in IAC Inc. (NASDAQ:IAC)

Heritage Investors Management Corp decreased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,929 shares of the company's stock after selling 17,166 shares during the period. Heritage Investors Management Corp owned about 0.10% of IAC worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company's stock worth $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp boosted its stake in IAC by 1.2% in the third quarter. State Street Corp now owns 2,360,210 shares of the company's stock valued at $127,027,000 after buying an additional 28,577 shares in the last quarter. Geode Capital Management LLC grew its position in IAC by 2.2% in the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company's stock valued at $65,541,000 after acquiring an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in IAC by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company's stock worth $51,027,000 after acquiring an additional 52,271 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in IAC by 553.6% during 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 in the last quarter. 88.90% of the stock is owned by institutional investors.

Remove Ads

IAC Stock Down 1.6 %

Shares of NASDAQ:IAC traded down $0.72 during mid-day trading on Monday, hitting $45.50. 1,018,499 shares of the company traded hands, compared to its average volume of 899,588. The stock has a market cap of $3.66 billion, a P/E ratio of -6.98 and a beta of 1.32. The stock has a 50-day moving average price of $43.39 and a two-hundred day moving average price of $47.96. 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. 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 report on Thursday, February 13th. Benchmark lowered their price target on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. TD Cowen cut their price objective on IAC from $82.00 to $77.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler cut IAC from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.67.

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.