Legal & General Group Plc Has $9.98 Million Position in IAC Inc. (NASDAQ:IAC)

Legal & General Group Plc reduced its position in IAC Inc. (NASDAQ:IAC - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,303 shares of the company's stock after selling 12,713 shares during the quarter. Legal & General Group Plc owned 0.29% of IAC worth $9,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IAC. Norges Bank purchased a new stake in shares of IAC during the 4th quarter valued at $38,817,000. Joel Isaacson & Co. LLC boosted 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 buying an additional 359,327 shares during the last quarter. Highbridge Capital Management LLC raised its position in IAC by 223.5% in the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock valued at $15,172,000 after purchasing an additional 242,982 shares during the period. Proficio Capital Partners LLC lifted its stake in IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock worth $9,897,000 after purchasing an additional 224,131 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in IAC during the 4th quarter worth approximately $8,015,000. Institutional investors own 88.90% of the company's stock.

IAC Stock Up 3.8 %

IAC stock traded up $1.26 during mid-day trading on Wednesday, hitting $34.81. The company's stock had a trading volume of 106,004 shares, compared to its average volume of 834,488. The firm's 50 day moving average is $42.12 and its 200 day moving average is $44.96. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $58.29. The company has a market cap of $2.70 billion, a PE ratio of -5.34 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IAC. Barclays dropped their price target on shares of IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Oppenheimer lowered their target price on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday. Benchmark reduced their target price on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, JMP Securities dropped their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.15.

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.