Davis Selected Advisers Decreases Stock Position in IAC Inc. (NASDAQ:IAC)

Davis Selected Advisers cut its holdings in IAC Inc. (NASDAQ:IAC) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,635,624 shares of the company’s stock after selling 66,518 shares during the quarter. Davis Selected Advisers’ holdings in IAC were worth $113,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of IAC by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after buying an additional 66,347 shares in the last quarter. State Street Corp raised its stake in IAC by 1.2% in the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock valued at $127,027,000 after purchasing an additional 28,577 shares during the last quarter. Geode Capital Management LLC raised its stake in IAC by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in IAC by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock valued at $41,728,000 after purchasing an additional 19,148 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after purchasing an additional 359,327 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IAC shares. TD Cowen cut their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and cut their target price for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Barclays cut their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Citigroup upped their price objective on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Macquarie reaffirmed an “outperform” rating and set a $14.00 price objective on shares of IAC in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

IAC Stock Down 0.3 %

Shares of NASDAQ:IAC opened at $44.09 on Friday. The stock has a market capitalization of $3.55 billion, a P/E ratio of -6.76 and a beta of 1.32. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29. The stock has a 50-day simple moving average of $43.58 and a 200-day simple moving average of $47.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

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.