KLP Kapitalforvaltning AS Takes $634,000 Position in IAC Inc. (NASDAQ:IAC)

KLP Kapitalforvaltning AS acquired a new stake in IAC Inc. (NASDAQ:IAC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 14,700 shares of the company’s stock, valued at approximately $634,000.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp increased its holdings in shares of 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 purchasing an additional 28,577 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in IAC by 9.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company’s stock valued at $68,306,000 after acquiring an additional 130,604 shares during the period. Geode Capital Management LLC raised its holdings in IAC by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after acquiring an additional 25,909 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of IAC by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after acquiring an additional 19,148 shares during the period. Finally, Joel Isaacson & Co. LLC grew its holdings in shares of 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 purchasing an additional 359,327 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IAC. Citigroup raised their price objective on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Oppenheimer dropped their target price on IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Benchmark decreased their price target on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Barclays dropped their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average price target of $64.31.

IAC Stock Up 1.9 %

IAC stock opened at $40.02 on Thursday. The stock has a 50-day simple moving average of $44.88 and a two-hundred day simple moving average of $47.06. IAC Inc. has a twelve month low of $37.76 and a twelve month high of $58.29. The firm has a market capitalization of $3.10 billion, a PE ratio of -6.14 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

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.