Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,262 Shares of IAC Inc. (NASDAQ:IAC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in IAC Inc. (NASDAQ:IAC) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,678 shares of the company’s stock after acquiring an additional 2,262 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IAC were worth $874,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in IAC by 9.5% during the fourth quarter. WCM Investment Management LLC now owns 295,871 shares of the company’s stock valued at $15,758,000 after buying an additional 25,704 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of IAC by 33.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 5,644 shares of the company’s stock worth $296,000 after purchasing an additional 1,427 shares during the last quarter. International Assets Investment Management LLC bought a new stake in IAC during the fourth quarter valued at about $2,579,000. Investment Partners Asset Management Inc. purchased a new position in IAC in the fourth quarter valued at about $357,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in IAC by 48.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,420 shares of the company’s stock worth $3,793,000 after purchasing an additional 23,531 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IAC. Truist Financial raised their price target on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. KeyCorp upped their price target on IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. UBS Group raised their price objective on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Barclays increased their price target on IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Trading Up 1.1 %

NASDAQ IAC opened at $48.62 on Monday. The company has a fifty day moving average of $52.13 and a 200 day moving average of $50.26. The company has a market capitalization of $3.89 billion, a PE ratio of 19.60 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85.

IAC (NASDAQ:IAC) last issued its 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 analysts’ expectations of $1.06 billion. Research analysts forecast that IAC Inc. will post -2.02 earnings per share for the current 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.