Artisan Partners Limited Partnership Grows Stock Holdings in IAC Inc. (NASDAQ:IAC)

Artisan Partners Limited Partnership raised its stake in shares of IAC Inc. (NASDAQ:IAC) by 0.1% in the 4th quarter, Holdings Channel reports. The fund owned 908,819 shares of the company’s stock after acquiring an additional 473 shares during the quarter. Artisan Partners Limited Partnership’s holdings in IAC were worth $39,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of IAC by 2.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in IAC by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock valued at $1,654,000 after purchasing an additional 531 shares in the last quarter. KBC Group NV increased its position in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares during the period. Sanctuary Advisors LLC raised its stake in shares of IAC by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock worth $4,188,000 after buying an additional 659 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of IAC by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after buying an additional 686 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IAC shares. Truist Financial dropped their price objective on IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group cut their price target on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Citigroup raised 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $60.00 target price on shares of IAC in a report on Friday, March 21st. Finally, Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

IAC Price Performance

Shares of NASDAQ:IAC opened at $46.32 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The business’s fifty day moving average price is $44.90 and its two-hundred day moving average price is $47.28. The stock has a market cap of $3.59 billion, a PE ratio of -7.10 and a beta of 1.29. IAC Inc. has a one year low of $39.61 and a one year high of $58.29.

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.