Allworth Financial LP Grows Holdings in IAC Inc. (NASDAQ:IAC)

Allworth Financial LP grew its stake in IAC Inc. (NASDAQ:IAC) by 1,193.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,337 shares of the company’s stock after acquiring an additional 3,079 shares during the period. Allworth Financial LP’s holdings in IAC were worth $139,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in IAC by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after buying an additional 66,347 shares during the period. State Street Corp increased its stake in IAC by 1.2% during the 3rd quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after buying an additional 28,577 shares during the period. Geode Capital Management LLC increased its stake in IAC by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after buying an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 period. Finally, Joel Isaacson & Co. LLC increased its stake in IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after buying an additional 359,327 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Cowen cut their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. UBS Group decreased their price objective on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. JMP Securities dropped their target price 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, Macquarie reaffirmed an “outperform” rating and set a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $64.67.

IAC Stock Performance

Shares of IAC stock opened at $45.63 on Monday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -7.00 and a beta of 1.32. IAC Inc. has a 52 week low of $39.61 and a 52 week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $43.09 and its two-hundred day moving average is $48.10.

IAC Company 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.