Walleye Capital LLC Makes New $350,000 Investment in IAC Inc. (NASDAQ:IAC)

Walleye Capital LLC purchased a new stake in IAC Inc. (NASDAQ:IACGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,603 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in IAC in the second quarter valued at about $2,044,000. Oppenheimer & Co. Inc. lifted its holdings in shares of IAC by 16.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,470 shares of the company’s stock worth $950,000 after acquiring an additional 1,349 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of IAC during the 1st quarter worth approximately $9,697,000. JPMorgan Chase & Co. increased its holdings in IAC by 29.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,016,172 shares of the company’s stock valued at $302,462,000 after purchasing an additional 694,197 shares during the last quarter. Finally, AlphaCrest Capital Management LLC raised its position in IAC by 96.0% in the first quarter. AlphaCrest Capital Management LLC now owns 8,123 shares of the company’s stock valued at $815,000 after purchasing an additional 3,979 shares during the period. Institutional investors and hedge funds own 99.07% of the company’s stock.

IAC Stock Performance

Shares of IAC stock opened at $47.29 on Friday. The firm’s fifty day simple moving average is $52.77 and its 200-day simple moving average is $68.12. IAC Inc. has a 12 month low of $43.80 and a 12 month high of $140.77. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -3.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.29 and a quick ratio of 2.29.

Insider Buying and Selling at IAC

In other IAC news, major shareholder Iac Inc. bought 148,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average price of $33.78 per share, for a total transaction of $4,999,440.00. Following the completion of the purchase, the insider now owns 64,672,502 shares of the company’s stock, valued at $2,184,637,117.56. The acquisition was disclosed in a filing with the SEC, which is available through this link. 13.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IAC. Cowen lowered their price target on IAC from $124.00 to $80.00 in a research report on Monday, November 7th. KeyCorp dropped their target price on IAC from $100.00 to $60.00 in a research report on Tuesday, November 8th. Wells Fargo & Company reduced their price target on shares of IAC from $120.00 to $85.00 in a research report on Monday. Piper Sandler lowered their price objective on shares of IAC from $100.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, November 9th. Finally, Credit Suisse Group upped their target price on shares of IAC from $101.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.

IAC Company Profile

(Get Rating)

IAC/InterActiveCorp 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.

Further Reading

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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