JPMorgan Chase & Co. Lowers Position in IAC Inc. (NASDAQ:IAC)

JPMorgan Chase & Co. reduced its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 13.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,894,480 shares of the company's stock after selling 735,796 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.08% of IAC worth $211,148,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in IAC by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock valued at $341,097,000 after purchasing an additional 43,772 shares during the period. State Street Corp boosted its stake in shares of IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company's stock valued at $127,027,000 after purchasing an additional 28,577 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock valued at $68,306,000 after purchasing an additional 130,604 shares during the last quarter. Geode Capital Management LLC increased its position in IAC by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company's stock worth $65,541,000 after purchasing an additional 25,909 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in IAC by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock valued at $41,728,000 after buying an additional 19,148 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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IAC Trading Down 3.9 %

IAC traded down $1.43 during midday trading on Friday, reaching $35.34. 1,051,983 shares of the company's stock traded hands, compared to its average volume of 797,212. IAC Inc. has a 52 week low of $34.45 and a 52 week high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a fifty day moving average of $44.78 and a two-hundred day moving average of $46.99. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.43 and a beta of 1.24.

Analysts Set New Price Targets

A number of equities analysts recently commented on IAC shares. JMP Securities cut their price objective on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $60.00 price target on shares of IAC in a research report on Friday, March 21st. Oppenheimer dropped their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their price target on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler downgraded shares of IAC from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $64.31.

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.