IAC (NASDAQ:IAC – Get Free Report) had its target price cut by stock analysts at UBS Group from $66.00 to $54.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 12.20% from the stock’s current price.
Several other equities analysts also recently commented on IAC. Credit Suisse Group cut their price target on shares of IAC from $123.00 to $112.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th. Benchmark cut their price target on shares of IAC from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Citigroup cut their price target on shares of IAC from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Barclays cut their price target on shares of IAC from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, August 10th. Finally, StockNews.com upgraded shares of IAC from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.31.
IAC Stock Down 0.5 %
Hedge Funds Weigh In On IAC
A number of hedge funds and other institutional investors have recently modified their holdings of IAC. Moneta Group Investment Advisors LLC boosted its stake in shares of IAC by 113,402.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company’s stock valued at $646,113,000 after purchasing an additional 14,539,274 shares in the last quarter. Norges Bank bought a new position in shares of IAC during the fourth quarter valued at approximately $40,036,000. ArrowMark Colorado Holdings LLC lifted its position in IAC by 17,714.0% during the second quarter. ArrowMark Colorado Holdings LLC now owns 759,591 shares of the company’s stock valued at $47,702,000 after acquiring an additional 755,327 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in IAC during the first quarter valued at approximately $34,830,000. Finally, Millennium Management LLC lifted its position in IAC by 390.8% during the fourth quarter. Millennium Management LLC now owns 766,005 shares of the company’s stock valued at $34,011,000 after acquiring an additional 609,934 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors.
IAC Company 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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