Harspring Capital Management LLC Sells 165,000 Shares of IAC Inc. (NASDAQ:IAC)

Harspring Capital Management LLC lessened its position in IAC Inc. (NASDAQ:IAC - Free Report) by 23.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 545,000 shares of the company's stock after selling 165,000 shares during the quarter. IAC comprises about 6.7% of Harspring Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Harspring Capital Management LLC owned about 0.68% of IAC worth $23,511,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of IAC during the fourth quarter valued at about $38,817,000. Joel Isaacson & Co. LLC lifted its position in IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after purchasing an additional 359,327 shares during the period. Highbridge Capital Management LLC lifted its holdings in shares of IAC by 223.5% during the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after acquiring an additional 242,982 shares during the period. Proficio Capital Partners LLC grew its stake in shares of IAC by 4,238.5% in the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after purchasing an additional 224,131 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in IAC during the fourth quarter worth $8,015,000. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IAC shares. KeyCorp lifted their target price on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Citigroup boosted their price target on shares of IAC from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Barclays lowered 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 decreased their target price on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, UBS Group reduced their target price on shares of IAC from $55.00 to $54.00 and set a "neutral" 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.31.

IAC Stock Performance

IAC stock traded up $0.27 during midday trading on Friday, reaching $33.02. 826,162 shares of the company were exchanged, compared to its average volume of 834,341. IAC Inc. has a one year low of $32.05 and a one year high of $58.29. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -5.06 and a beta of 1.24. The business has a 50-day moving average price of $42.62 and a two-hundred day moving average price of $45.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

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.