IAC Inc. (NASDAQ:IAC) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,624 shares of the company’s stock after buying an additional 713 shares during the period. HighTower Advisors LLC’s holdings in IAC were worth $1,407,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IAC. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC in the 4th quarter worth $41,000. Quarry LP grew its holdings in shares of IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB increased its position 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 raised its stake in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares during the period. Finally, Allworth Financial LP boosted its holdings in IAC by 1,193.4% in 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. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of IAC opened at $50.00 on Tuesday. The company has a market cap of $3.87 billion, a P/E ratio of -7.67 and a beta of 1.29. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $44.42 and its 200 day moving average price is $47.29.

Analysts Set New Price Targets

IAC has been the subject of a number of recent analyst reports. KeyCorp raised their price target on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. UBS Group reduced their target price on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Barclays lowered their price target on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. JMP Securities reduced 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. Finally, Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.31.

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.