Royce & Associates LP Boosts Stock Position in IAC Inc. $IAC

Royce & Associates LP increased its stake in IAC Inc. (NASDAQ:IAC) by 17.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 304,497 shares of the company’s stock after buying an additional 45,000 shares during the period. Royce & Associates LP owned 0.43% of IAC worth $11,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC purchased a new stake in shares of IAC in the 4th quarter worth approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of IAC by 173.4% in the 4th quarter. Hantz Financial Services Inc. now owns 782 shares of the company’s stock worth $31,000 after buying an additional 496 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of IAC in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC purchased a new stake in shares of IAC in the 3rd quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of IAC by 96.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock worth $114,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the topic of several analyst reports. Citigroup upped their price objective on IAC from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group cut IAC from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a research report on Wednesday, May 6th. Barclays upped their price objective on IAC from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Benchmark upped their price objective on IAC from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Research raised IAC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.14.

IAC Price Performance

NASDAQ IAC opened at $44.21 on Thursday. The business’s fifty day moving average price is $41.42 and its 200-day moving average price is $38.66. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 119.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.69 and a quick ratio of 3.69. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $45.82.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.