US Bancorp DE Trims Holdings in IAC Inc. (NASDAQ:IAC)

US Bancorp DE reduced its stake in shares of IAC Inc. (NASDAQ:IAC) by 77.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,833 shares of the company’s stock after selling 6,400 shares during the quarter. US Bancorp DE’s holdings in IAC were worth $79,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of IAC by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company’s stock worth $1,705,000 after buying an additional 490 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of IAC by 1.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock valued at $1,654,000 after acquiring an additional 531 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in IAC by 2.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company’s stock worth $1,179,000 after acquiring an additional 597 shares during the period. KBC Group NV grew its holdings in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after acquiring an additional 608 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in IAC by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock valued at $4,188,000 after purchasing an additional 659 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IAC shares. UBS Group lowered their price target 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. Barclays dropped their target price on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. JMP Securities reduced their price target on IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler cut IAC from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Oppenheimer cut their target price on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.67.

IAC Price Performance

Shares of NASDAQ IAC opened at $47.12 on Tuesday. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The company has a market cap of $3.65 billion, a PE ratio of -7.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The business has a 50-day simple moving average of $43.75 and a two-hundred day simple moving average of $47.42.

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.