Raymond James & Associates Sells 9,910 Shares of IAC Inc. (NASDAQ:IAC)

Raymond James & Associates lessened its position in IAC Inc. (NASDAQ:IAC) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,207 shares of the company’s stock after selling 9,910 shares during the period. Raymond James & Associates’ holdings in IAC were worth $2,525,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IAC. Moneta Group Investment Advisors LLC grew its holdings in IAC by 113,402.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company’s stock worth $646,113,000 after acquiring an additional 14,539,274 shares during the last quarter. Norges Bank bought a new stake in shares of IAC during the 4th quarter valued at about $40,036,000. Scopus Asset Management L.P. bought a new stake in shares of IAC during the 1st quarter valued at about $34,830,000. Millennium Management LLC boosted its stake in shares of IAC by 390.8% during the 4th quarter. Millennium Management LLC now owns 766,005 shares of the company’s stock valued at $34,011,000 after purchasing an additional 609,934 shares in the last quarter. Finally, Mangrove Partners bought a new stake in shares of IAC during the 4th quarter valued at about $21,335,000. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

IAC has been the topic of a number of research reports. Truist Financial lifted their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Barclays lifted their price target on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. KeyCorp lifted their price target on shares of IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, UBS Group lifted their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average price target of $78.69.

IAC Stock Down 0.6 %

Shares of IAC stock opened at $47.90 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market capitalization of $3.83 billion, a PE ratio of 19.31 and a beta of 1.32. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $69.85. The company has a 50-day simple moving average of $53.05 and a two-hundred day simple moving average of $50.32.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, analysts anticipate that IAC Inc. will post -1.99 EPS for the current fiscal year.

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.