Schroder Investment Management Group Sells 419,504 Shares of IAC Inc. (NASDAQ:IAC)

Schroder Investment Management Group cut its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 59.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 288,213 shares of the company's stock after selling 419,504 shares during the period. Schroder Investment Management Group owned 0.36% of IAC worth $12,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in IAC during the 4th quarter worth approximately $38,817,000. Joel Isaacson & Co. LLC increased its holdings in shares of IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after purchasing an additional 359,327 shares during the period. Highbridge Capital Management LLC increased its holdings in shares of IAC by 223.5% in the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after purchasing an additional 242,982 shares during the period. Proficio Capital Partners LLC raised its position in shares of IAC by 4,238.5% in the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock worth $9,897,000 after buying an additional 224,131 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IAC during the fourth quarter valued at $8,015,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IAC has been the topic of a number of research analyst reports. Barclays decreased their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. KeyCorp raised their target price on shares of IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. UBS Group cut their price target on shares of IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. JMP Securities lowered their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler downgraded shares of IAC from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.31.

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IAC Trading Down 5.4 %

IAC stock traded down $1.85 during midday trading on Tuesday, hitting $32.68. The company had a trading volume of 1,369,501 shares, compared to its average volume of 810,171. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -5.01 and a beta of 1.24. IAC Inc. has a 52 week low of $32.22 and a 52 week high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average price is $44.06 and its 200 day moving average price is $46.38.

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.