CIBC Private Wealth Group LLC Boosts Position in IAC Inc. (NASDAQ:IAC)

CIBC Private Wealth Group LLC grew its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 171.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,895 shares of the company's stock after acquiring an additional 68,816 shares during the period. CIBC Private Wealth Group LLC owned 0.14% of IAC worth $4,540,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC during the fourth quarter worth about $41,000. Quarry LP grew its position in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $89,000 after purchasing an additional 1,916 shares during the period. Allworth Financial LP raised its position in shares of IAC by 1,193.4% in 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 boosted 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 valued at $141,000 after buying an additional 608 shares during the period. Institutional investors own 88.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on IAC. Truist Financial lowered their price objective on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Barclays dropped 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. Oppenheimer reduced their price objective on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. UBS Group dropped 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. Finally, JMP Securities cut their target price on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.31.

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IAC Stock Performance

Shares of IAC stock traded down $3.26 during trading on Thursday, reaching $36.76. 1,839,924 shares of the company's stock traded hands, compared to its average volume of 795,932. The firm's 50-day moving average is $44.78 and its 200 day moving average is $46.99. The company has a market capitalization of $2.85 billion, a P/E ratio of -5.64 and a beta of 1.24. IAC Inc. has a 1 year low of $36.69 and a 1 year 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.