Goldman Sachs Group Inc. Sells 121,251 Shares of IAC Inc. (NASDAQ:IAC)

Goldman Sachs Group Inc. lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 27.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 314,604 shares of the company’s stock after selling 121,251 shares during the period. Goldman Sachs Group Inc.’s holdings in IAC were worth $16,479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in IAC during the fourth quarter valued at approximately $39,426,000. Segantii Capital Management Ltd acquired a new stake in shares of IAC in the 4th quarter worth $2,881,000. Parkside Investments LLC grew its stake in IAC by 13.8% during the 4th quarter. Parkside Investments LLC now owns 176,269 shares of the company’s stock worth $9,233,000 after buying an additional 21,400 shares during the last quarter. TimesSquare Capital Management LLC increased its position in IAC by 66.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after buying an additional 413,440 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in IAC in the fourth quarter valued at about $2,579,000. Institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IAC. KeyCorp increased their price objective on shares of IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. StockNews.com downgraded shares of IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Barclays upped their target price on IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Truist Financial lifted their price target on IAC from $80.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Wells Fargo & Company increased their price objective on IAC from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.92.

IAC Trading Up 0.8 %

Shares of IAC stock opened at $46.75 on Friday. The stock has a 50 day simple moving average of $50.38 and a 200-day simple moving average of $51.57. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $69.85. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -29.59 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.93) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.21. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. The company had revenue of $929.68 million during the quarter, compared to analysts’ expectations of $937.68 million. On average, equities research analysts expect that IAC Inc. will post 0.09 EPS for the current fiscal year.

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.