PNC Financial Services Group Inc. Sells 1,711 Shares of IAC Inc. (NASDAQ:IAC)

PNC Financial Services Group Inc. lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,562 shares of the company’s stock after selling 1,711 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IAC were worth $111,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in IAC during the fourth quarter worth $41,000. Quarry LP raised its holdings in shares of IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after acquiring an additional 1,916 shares in the last quarter. KBC Group NV boosted its stake in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after purchasing an additional 608 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in IAC by 1,193.4% during the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial dropped their target price on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. JMP Securities reduced their target price on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $60.00 target price on shares of IAC in a report on Friday. Benchmark cut their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group decreased their price objective 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Price Performance

IAC stock opened at $50.00 on Tuesday. The business’s 50 day simple moving average is $44.42 and its 200 day simple moving average is $47.29. IAC Inc. has a 12 month low of $39.61 and a 12 month high of $58.29. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -7.67 and a beta of 1.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

IAC 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.