Empowered Funds LLC Acquires New Stake in IAC Inc. (NASDAQ:IAC)

Empowered Funds LLC purchased a new stake in IAC Inc. (NASDAQ:IAC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,319 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its holdings in IAC by 581.3% in the third quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after purchasing an additional 83,878 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after buying an additional 52,271 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of IAC by 5.1% in 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 grew its stake in 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 worth $17,990,000 after buying an additional 44,000 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IAC shares. KeyCorp boosted their price objective on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday. Benchmark lowered their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Oppenheimer lowered their price objective on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler cut IAC from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Three 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 has a consensus rating of “Moderate Buy” and an average price target of $64.67.

IAC Trading Down 0.5 %

IAC opened at $46.37 on Friday. The firm has a market capitalization of $3.73 billion, a PE ratio of -7.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company’s 50-day moving average is $43.06 and its 200 day moving average is $48.09.

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.