IAC Inc. (NASDAQ:IAC) Shares Sold by ShawSpring Partners LLC

ShawSpring Partners LLC cut its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,490,081 shares of the company's stock after selling 89,847 shares during the period. IAC makes up about 8.5% of ShawSpring Partners LLC's portfolio, making the stock its 7th largest holding. ShawSpring Partners LLC owned 1.85% of IAC worth $64,282,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in IAC in the 4th quarter valued at $38,817,000. Joel Isaacson & Co. LLC lifted its stake 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 buying an additional 359,327 shares in the last quarter. Highbridge Capital Management LLC boosted its position in IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after acquiring an additional 242,982 shares during the last quarter. Proficio Capital Partners LLC grew its stake in IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after acquiring an additional 224,131 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in IAC in the 4th quarter valued at about $8,015,000. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

Shares of IAC traded up $0.27 during midday trading on Friday, reaching $33.02. The stock had a trading volume of 826,162 shares, compared to its average volume of 832,551. The firm's 50 day moving average price is $42.62 and its 200-day moving average price is $45.26. The company has a market capitalization of $2.56 billion, a P/E ratio of -5.06 and a beta of 1.24. IAC Inc. has a 52 week low of $32.05 and a 52 week 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.

Analysts Set New Price Targets

IAC has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $60.00 price objective on shares of IAC in a report on Friday, March 21st. Barclays reduced their price target on shares of IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Oppenheimer decreased their price objective on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. KeyCorp raised their target price on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Citigroup upped their price target on IAC from $56.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, IAC currently has a consensus rating of "Moderate Buy" and an average target price of $64.31.

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.