Fox Run Management L.L.C. Takes Position in IAC Inc. (NASDAQ:IAC)

Fox Run Management L.L.C. bought a new stake in IAC Inc. (NASDAQ:IAC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,041 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds have also bought and sold shares of IAC. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC in the fourth quarter valued at approximately $41,000. Quarry LP increased its holdings in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after acquiring an additional 1,916 shares during the period. Allworth Financial LP raised its stake in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after acquiring an additional 3,079 shares during the period. Finally, KBC Group NV lifted its holdings in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after purchasing an additional 608 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Trading Down 5.2 %

IAC opened at $46.32 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. IAC Inc. has a twelve month low of $39.61 and a twelve month high of $58.29. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -7.10 and a beta of 1.29. The company has a 50-day simple moving average of $44.90 and a 200 day simple moving average of $47.28.

Analyst Upgrades and Downgrades

IAC has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $60.00 price objective on shares of IAC in a research report on Friday, March 21st. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. UBS Group cut their price objective on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Oppenheimer decreased their target price on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays dropped their price target on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

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.