Alliancebernstein L.P. Lowers Position in IAC Inc. (NASDAQ:IAC)

Alliancebernstein L.P. decreased its stake in IAC Inc. (NASDAQ:IAC) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,176 shares of the company’s stock after selling 6,831 shares during the quarter. Alliancebernstein L.P.’s holdings in IAC were worth $1,474,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Applied Fundamental Research LLC increased its holdings in IAC by 12.1% in the 4th quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock worth $17,955,000 after acquiring an additional 44,835 shares in the last quarter. Barclays PLC raised its position in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of IAC by 4,238.5% during the 4th quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock valued at $9,897,000 after buying an additional 224,131 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in IAC by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after buying an additional 19,148 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in IAC by 452.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock worth $4,438,000 after buying an additional 84,259 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IAC shares. Oppenheimer lowered their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Benchmark dropped their price target on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. JMP Securities reduced their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. restated an “overweight” rating and set a $60.00 target price on shares of IAC in a research report on Friday, March 21st. Finally, Barclays reduced their price target on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $64.31.

IAC Stock Up 0.8 %

Shares of NASDAQ:IAC opened at $33.02 on Friday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -5.06 and a beta of 1.24. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $42.78 and a 200 day moving average price of $45.39.

About IAC

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.