Raymond James Financial Inc. Takes $8.02 Million Position in IAC Inc. (NASDAQ:IAC)

Raymond James Financial Inc. purchased a new stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 185,790 shares of the company's stock, valued at approximately $8,015,000. Raymond James Financial Inc. owned 0.23% of IAC as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. MML Investors Services LLC raised its position in IAC by 20.5% in the third quarter. MML Investors Services LLC now owns 5,725 shares of the company's stock valued at $308,000 after purchasing an additional 973 shares during the period. Barclays PLC raised its holdings in IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company's stock valued at $3,268,000 after buying an additional 54,797 shares during the period. Franklin Resources Inc. raised its holdings in IAC by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock valued at $577,000 after buying an additional 686 shares during the period. Fortis Advisors LLC lifted its position in IAC by 23.3% in the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company's stock valued at $416,000 after buying an additional 1,825 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in IAC by 452.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company's stock worth $4,438,000 after buying an additional 84,259 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Trading Up 2.0 %

NASDAQ IAC opened at $33.55 on Wednesday. IAC Inc. has a 52 week low of $32.05 and a 52 week high of $58.29. The firm has a 50 day moving average of $42.12 and a two-hundred day moving average of $44.96. The stock has a market capitalization of $2.60 billion, a PE ratio of -5.15 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

Several equities analysts have recently commented on IAC shares. JMP Securities decreased their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a report on Thursday, February 13th. UBS Group lowered their price target on IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Barclays cut their price objective on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Truist Financial lowered their target price on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus price target of $63.15.

About IAC

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.

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