Monimus Capital Management LP Takes Position in IAC Inc. (NASDAQ:IAC)

Monimus Capital Management LP acquired a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,378 shares of the company's stock, valued at approximately $1,699,000. IAC comprises about 1.6% of Monimus Capital Management LP's portfolio, making the stock its 22nd largest holding.

A number of other hedge funds have also modified their holdings of IAC. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in IAC in the 4th quarter worth about $41,000. Quarry LP grew its position in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after acquiring an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in IAC by 1,398.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after acquiring an additional 1,916 shares in the last quarter. Allworth Financial LP raised its holdings in shares of IAC by 1,193.4% during the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after purchasing an additional 3,079 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after purchasing an additional 608 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent analyst reports. Truist Financial cut 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. KeyCorp upped their price target on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Citigroup raised their target price on IAC from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, January 31st. JMP Securities reduced their price objective 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. Finally, Piper Sandler lowered shares of IAC from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $64.67.

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IAC Trading Up 2.8 %

NASDAQ IAC traded up $1.33 during trading on Wednesday, reaching $48.28. 1,058,597 shares of the stock traded hands, compared to its average volume of 749,432. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -7.40 and a beta of 1.29. The stock's 50-day moving average price is $43.83 and its 200 day moving average price is $47.37.

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.