Russell Investments Group Ltd. Reduces Stock Position in IAC Inc. (NASDAQ:IAC)

Russell Investments Group Ltd. trimmed its holdings in IAC Inc. (NASDAQ:IAC) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,328 shares of the company’s stock after selling 2,944 shares during the period. Russell Investments Group Ltd.’s holdings in IAC were worth $4,673,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in IAC during the fourth quarter valued at approximately $41,000. MassMutual Private Wealth & Trust FSB raised its position in shares of IAC by 1,398.5% during 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 in the last quarter. KBC Group NV lifted its stake in IAC by 22.8% during the fourth 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 last quarter. Allworth Financial LP boosted its holdings in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares during the period. Finally, Headlands Technologies LLC bought a new stake in IAC during the fourth quarter valued at $175,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

NASDAQ IAC opened at $33.85 on Tuesday. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $58.29. The firm has a market capitalization of $2.62 billion, a PE ratio of -5.19 and a beta of 1.24. The company’s 50 day simple moving average is $43.29 and its 200 day simple moving average is $45.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IAC shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $60.00 price target on shares of IAC in a research report on Friday, March 21st. Truist Financial decreased their target price on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup increased their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. KeyCorp boosted their price objective on IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Oppenheimer cut their target price on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.31.

IAC 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.