IAC Inc. (NASDAQ:IAC) Shares Sold by Shell Asset Management Co.

Posted by on Mar 2nd, 2023

Shell Asset Management Co. lessened its stake in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,164 shares of the company’s stock after selling 278 shares during the quarter. Shell Asset Management Co.’s holdings in IAC were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IAC. Wipfli Financial Advisors LLC acquired a new position in shares of IAC during the third quarter valued at approximately $40,000. Toronto Dominion Bank increased its stake in shares of IAC by 103.8% during the third quarter. Toronto Dominion Bank now owns 807 shares of the company’s stock valued at $45,000 after acquiring an additional 411 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of IAC by 12,044.4% during the third quarter. SRS Capital Advisors Inc. now owns 1,093 shares of the company’s stock valued at $61,000 after acquiring an additional 1,084 shares during the period. Wahed Invest LLC acquired a new position in shares of IAC during the second quarter valued at approximately $63,000. Finally, Truvestments Capital LLC bought a new stake in IAC during the second quarter worth approximately $70,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IAC. Credit Suisse Group raised their target price on shares of IAC from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Truist Financial reduced their target price on shares of IAC from $155.00 to $120.00 in a report on Thursday, November 10th. Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of IAC in a report on Wednesday, February 15th. Barclays raised their target price on shares of IAC from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, Benchmark restated a “buy” rating and set a $130.00 target price on shares of IAC in a report on Friday, February 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.13.

IAC Trading Down 0.8 %

Shares of NASDAQ:IAC opened at $51.55 on Thursday. The firm has a fifty day moving average of $51.40 and a two-hundred day moving average of $53.34. The firm has a market capitalization of $4.28 billion, a P/E ratio of -3.82 and a beta of 1.12. IAC Inc. has a 12-month low of $41.52 and a 12-month high of $117.33. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.31.

IAC Company Profile

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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