US Bancorp DE Cuts Stock Position in IAC Inc. (NASDAQ:IAC)

US Bancorp DE decreased its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 77.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,833 shares of the company's stock after selling 6,400 shares during the quarter. US Bancorp DE's holdings in IAC were worth $79,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments Inc grew its stake in IAC by 15.8% during the third quarter. Atria Investments Inc now owns 5,444 shares of the company's stock worth $293,000 after purchasing an additional 743 shares during the period. Victory Capital Management Inc. increased its stake in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company's stock valued at $1,705,000 after acquiring an additional 490 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of IAC by 2.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company's stock valued at $1,179,000 after acquiring an additional 597 shares during the period. Natixis Advisors LLC boosted its stake in IAC by 1.5% during the third quarter. Natixis Advisors LLC now owns 83,100 shares of the company's stock worth $4,472,000 after acquiring an additional 1,199 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in IAC by 2,546.5% in the third quarter. Quest Partners LLC now owns 21,701 shares of the company's stock worth $1,168,000 after purchasing an additional 20,881 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

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Analyst Upgrades and Downgrades

IAC has been the subject of several research reports. Piper Sandler lowered IAC from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Truist Financial decreased their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. KeyCorp upped their price target on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Benchmark dropped their price objective on IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.31.

IAC Price Performance

NASDAQ IAC traded down $0.13 on Friday, hitting $48.41. The stock had a trading volume of 1,225,056 shares, compared to its average volume of 758,543. The firm has a 50-day moving average of $44.10 and a 200-day moving average of $47.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC Inc. has a 52-week low of $39.61 and a 52-week high of $58.29. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -7.42 and a beta of 1.29.

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.