Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of IAC Inc. (NASDAQ:IAC – Free Report) by 84.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,490 shares of the company’s stock after selling 77,410 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in IAC were worth $748,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of IAC. National Bank of Canada FI raised its stake in shares of IAC by 2,355.2% in the first quarter. National Bank of Canada FI now owns 712 shares of the company’s stock valued at $35,000 after buying an additional 683 shares during the period. Belpointe Asset Management LLC purchased a new position in IAC during the fourth quarter worth about $36,000. Quent Capital LLC grew its position in IAC by 53.8% during the first quarter. Quent Capital LLC now owns 732 shares of the company’s stock worth $38,000 after buying an additional 256 shares in the last quarter. Parallel Advisors LLC grew its position in IAC by 94.4% during the first quarter. Parallel Advisors LLC now owns 801 shares of the company’s stock worth $41,000 after buying an additional 389 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of IAC by 255.0% in the 1st quarter. Spire Wealth Management now owns 859 shares of the company’s stock worth $44,000 after purchasing an additional 617 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
IAC has been the subject of a number of research reports. KeyCorp cut their price objective on IAC from $82.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group upped their price target on IAC from $70.00 to $80.00 in a research report on Thursday, May 18th. Credit Suisse Group reduced their target price on IAC from $123.00 to $112.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th. StockNews.com began coverage on IAC in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target on IAC from $71.00 to $74.00 in a research note on Monday, July 17th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.
IAC Price Performance
NASDAQ IAC opened at $54.55 on Friday. The business’s fifty day moving average price is $63.03 and its 200-day moving average price is $56.72. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 19.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.13 and a quick ratio of 2.13. IAC Inc. has a 1-year low of $41.52 and a 1-year high of $70.78.
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.
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