Quantbot Technologies LP Takes Position in IAC Inc. (NASDAQ:IAC)

Quantbot Technologies LP bought a new stake in IAC Inc. (NASDAQ:IAC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 27,275 shares of the company’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC during the 4th quarter worth approximately $41,000. Quarry LP lifted its holdings in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB grew its position 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 buying an additional 1,916 shares during the last quarter. Allworth Financial LP increased 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 buying an additional 3,079 shares during the period. Finally, KBC Group NV increased its stake in IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after buying an additional 608 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

NASDAQ:IAC opened at $49.42 on Wednesday. The firm has a 50-day moving average price of $44.57 and a two-hundred day moving average price of $47.28. The company has a market capitalization of $3.83 billion, a P/E ratio of -7.58 and a beta of 1.29. IAC Inc. has a twelve month low of $39.61 and a twelve 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer lowered their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group lowered their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Citigroup increased their target price on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $60.00 price target on shares of IAC in a research note on Friday, March 21st. Finally, Truist Financial cut their price objective on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Company 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.