Royal Bank of Canada reduced its position in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,322 shares of the company’s stock after selling 6,669 shares during the quarter. Royal Bank of Canada owned 0.34% of IAC worth $15,414,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IAC. Boyar Asset Management Inc. increased its holdings in shares of IAC by 1.9% during the 2nd quarter. Boyar Asset Management Inc. now owns 8,581 shares of the company’s stock worth $652,000 after buying an additional 164 shares during the last quarter. Greenleaf Trust increased its holdings in IAC by 6.9% in the 2nd quarter. Greenleaf Trust now owns 3,185 shares of the company’s stock valued at $242,000 after purchasing an additional 205 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in IAC by 0.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 30,781 shares of the company’s stock valued at $2,339,000 after purchasing an additional 209 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in IAC by 3.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the company’s stock valued at $416,000 after purchasing an additional 246 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in IAC by 3.1% in the 1st quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock valued at $808,000 after purchasing an additional 246 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.
IAC Trading Up 1.1 %
Shares of IAC stock opened at $53.98 on Tuesday. IAC Inc. has a 52-week low of $41.52 and a 52-week high of $107.27. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $52.03 and its 200-day simple moving average is $52.71. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -4.00 and a beta of 1.13.
Wall Street Analysts Forecast Growth
Several research firms have commented on IAC. UBS Group upgraded shares of IAC from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Wednesday, February 15th. StockNews.com raised shares of IAC from a “sell” rating to a “hold” rating in a research report on Wednesday, February 15th. Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of IAC in a research report on Friday, February 10th. Piper Sandler lifted their price objective on shares of IAC from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Finally, KeyCorp reduced their price target on shares of IAC from $100.00 to $60.00 in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.13.
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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