Goldman Sachs Group Inc. Has $16.48 Million Holdings in IAC Inc. (NASDAQ:IAC)

Goldman Sachs Group Inc. trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,604 shares of the company’s stock after selling 121,251 shares during the quarter. Goldman Sachs Group Inc. owned 0.39% of IAC worth $16,479,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Garden State Investment Advisory Services LLC raised its stake in shares of IAC by 1.3% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company’s stock worth $786,000 after purchasing an additional 196 shares during the last quarter. DAVENPORT & Co LLC raised its position in IAC by 0.6% in the 4th quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company’s stock valued at $2,325,000 after buying an additional 271 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in IAC by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company’s stock valued at $1,721,000 after acquiring an additional 320 shares in the last quarter. Alhambra Investment Management LLC boosted its holdings in IAC by 9.6% during the 4th quarter. Alhambra Investment Management LLC now owns 10,796 shares of the company’s stock worth $565,000 after acquiring an additional 950 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of IAC by 18.2% in the 4th quarter. SG Americas Securities LLC now owns 6,548 shares of the company’s stock worth $343,000 after acquiring an additional 1,006 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of IAC from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Truist Financial raised their price objective on shares of IAC from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Barclays boosted their target price on shares of IAC from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Wells Fargo & Company raised their price target on shares of IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Finally, Citigroup dropped their price objective on IAC from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.92.

IAC Stock Performance

NASDAQ:IAC opened at $46.75 on Friday. The business’s fifty day moving average is $50.38 and its 200 day moving average is $51.57. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -29.59 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.70 and a current ratio of 2.70. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $69.85.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.21. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The firm had revenue of $929.68 million for the quarter, compared to analysts’ expectations of $937.68 million. Research analysts predict that IAC Inc. will post 0.09 EPS for the current year.

About IAC

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.