Levin Capital Strategies L.P. Grows Position in IAC Inc. (NASDAQ:IAC)

Levin Capital Strategies L.P. raised its position in IAC Inc. (NASDAQ:IAC) by 139.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,251 shares of the company’s stock after purchasing an additional 56,583 shares during the quarter. Levin Capital Strategies L.P. owned 0.12% of IAC worth $4,195,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IAC. Sanctuary Advisors LLC raised its holdings in shares of IAC by 581.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after buying an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares during the period. Royce & Associates LP raised its holdings in shares of IAC by 5.1% during the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after buying an additional 13,400 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of IAC by 15.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after buying an additional 44,000 shares during the period. Finally, Barclays PLC raised its holdings in shares of IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after buying an additional 54,797 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on IAC. Benchmark dropped their target price on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. 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 dropped 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. JMP Securities dropped their price objective on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Finally, TD Cowen dropped their price objective on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, IAC currently has an average rating of “Moderate Buy” and an average target price of $64.67.

IAC Price Performance

Shares of IAC opened at $46.22 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -7.09 and a beta of 1.32. The stock has a 50 day moving average of $43.39 and a 200-day moving average of $47.97. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. IAC Inc. has a 52 week low of $39.61 and a 52 week high of $58.29.

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.