International Assets Investment Management LLC Invests $2.58 Million in IAC Inc. (NASDAQ:IAC)

International Assets Investment Management LLC purchased a new position in IAC Inc. (NASDAQ:IAC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 49,237 shares of the company’s stock, valued at approximately $2,579,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC raised its stake in IAC by 113,402.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 14,552,095 shares of the company’s stock valued at $646,113,000 after buying an additional 14,539,274 shares during the last quarter. Norges Bank bought a new position in shares of IAC during the 4th quarter valued at about $40,036,000. Scopus Asset Management L.P. bought a new position in shares of IAC in the 1st quarter valued at about $34,830,000. Millennium Management LLC raised its position in IAC by 390.8% in the 4th quarter. Millennium Management LLC now owns 766,005 shares of the company’s stock worth $34,011,000 after purchasing an additional 609,934 shares during the period. Finally, Mangrove Partners purchased a new stake in IAC in the 4th quarter worth about $21,335,000. 88.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAC. Truist Financial lifted their price objective on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. UBS Group upped their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. KeyCorp upped their price objective on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Barclays increased their price objective on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average price target of $78.69.

IAC Stock Up 1.1 %

Shares of NASDAQ:IAC opened at $47.59 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 19.19 and a beta of 1.32. The firm’s 50-day simple moving average is $52.77 and its 200-day simple moving average is $50.25. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $69.85.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. As a group, equities research analysts predict that IAC Inc. will post -1.99 earnings per share for the current year.

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.