Renaissance Technologies LLC Increases Holdings in IAC Inc. (NASDAQ:IAC)

Renaissance Technologies LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 82.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,627 shares of the company's stock after purchasing an additional 44,500 shares during the period. Renaissance Technologies LLC owned 0.12% of IAC worth $4,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in IAC. Aster Capital Management DIFC Ltd boosted its position in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC during the fourth quarter worth about $41,000. MassMutual Private Wealth & Trust FSB lifted its stake in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after purchasing an additional 1,916 shares during the last quarter. KBC Group NV lifted its position in shares of IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after buying an additional 608 shares during the last quarter. Finally, Allworth Financial LP grew 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 during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Stock Up 1.1 %

Shares of NASDAQ:IAC traded up $0.38 during trading on Friday, reaching $35.55. 371,088 shares of the stock traded hands, compared to its average volume of 837,229. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $58.29. The stock has a 50-day moving average of $41.62 and a two-hundred day moving average of $44.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a market cap of $2.75 billion, a P/E ratio of -5.45 and a beta of 1.24.

Analysts Set New Price Targets

A number of research firms recently weighed in on IAC. Benchmark decreased their price objective on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Truist Financial lowered their price objective on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. UBS Group decreased their target price on IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Citigroup lowered their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday. 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $62.15.

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.