899,783 Shares in IAC Inc. (NASDAQ:IAC) Bought by Norges Bank

Norges Bank purchased a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 899,783 shares of the company's stock, valued at approximately $38,817,000. Norges Bank owned about 1.12% of IAC at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IAC. EntryPoint Capital LLC increased its holdings in IAC by 62.4% in the 4th quarter. EntryPoint Capital LLC now owns 6,225 shares of the company's stock valued at $269,000 after purchasing an additional 2,393 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 last quarter. LPL Financial LLC increased its holdings in IAC by 17.1% in the 4th quarter. LPL Financial LLC now owns 5,016 shares of the company's stock valued at $216,000 after purchasing an additional 733 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in IAC in the 4th quarter valued at approximately $217,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in IAC in the 4th quarter valued at approximately $634,000. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Down 3.2 %

Shares of IAC stock traded down $1.15 during trading on Thursday, hitting $34.41. 228,689 shares of the stock were exchanged, compared to its average volume of 1,076,201. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -5.28 and a beta of 1.24. The firm's 50-day moving average price is $43.79 and its 200 day moving average price is $46.18. IAC Inc. has a 12-month low of $32.04 and a 12-month 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.

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Analysts Set New Price Targets

Several research firms recently weighed in on IAC. Benchmark dropped their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $60.00 price target on shares of IAC in a research report on Friday, March 21st. Citigroup raised their price target on shares of IAC from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Barclays decreased their price target 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, KeyCorp raised their price target on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.31.

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.