Cove Street Capital LLC Sells 51,931 Shares of IAC Inc. (NASDAQ:IAC)

Cove Street Capital LLC lessened its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 39.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,503 shares of the company's stock after selling 51,931 shares during the quarter. IAC makes up about 4.1% of Cove Street Capital LLC's holdings, making the stock its 7th largest position. Cove Street Capital LLC owned about 0.10% of IAC worth $3,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. California Public Employees Retirement System lifted its stake in IAC by 58.2% in the 4th quarter. California Public Employees Retirement System now owns 250,434 shares of the company's stock valued at $10,804,000 after buying an additional 92,143 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in IAC by 129.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 34,111 shares of the company's stock valued at $1,472,000 after purchasing an additional 19,216 shares during the period. Highbridge Capital Management LLC increased its position in IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after purchasing an additional 242,982 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in IAC during the fourth quarter worth approximately $289,000. Finally, Norges Bank acquired a new position in shares of IAC in the 4th quarter valued at $38,817,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages recently weighed in on IAC. UBS Group reduced their target price on IAC from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Oppenheimer dropped their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Piper Sandler cut shares of IAC from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Barclays dropped their price objective on shares of IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of IAC from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.31.

IAC Stock Down 5.2 %

Shares of NASDAQ IAC traded down $2.07 during midday trading on Thursday, reaching $37.95. 623,593 shares of the company's stock were exchanged, compared to its average volume of 791,506. 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 52-week low of $37.30 and a 52-week high of $58.29. The business's fifty day moving average price is $44.88 and its two-hundred day moving average price is $47.06. The stock has a market capitalization of $2.94 billion, a PE ratio of -5.82 and a beta of 1.24.

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.