CIBC Asset Management Inc Grows Stock Holdings in IAC Inc. (NASDAQ:IAC)

CIBC Asset Management Inc raised its holdings in shares of IAC Inc. (NASDAQ:IAC) by 43.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,293 shares of the company’s stock after purchasing an additional 2,213 shares during the quarter. CIBC Asset Management Inc’s holdings in IAC were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 valued at $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp lifted its position in shares of IAC by 1.2% during the third 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 last quarter. Geode Capital Management LLC boosted its stake in shares of IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock valued at $65,541,000 after purchasing an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of IAC by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock worth $51,027,000 after purchasing an additional 52,271 shares during the last quarter. Finally, Joel Isaacson & Co. LLC grew its holdings in shares of IAC by 553.6% in the fourth 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 during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Price Performance

IAC opened at $46.24 on Tuesday. The firm has a market capitalization of $3.72 billion, a PE ratio of -7.09 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. The business’s 50-day moving average is $43.12 and its two-hundred day moving average is $48.07. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29.

Analyst Ratings Changes

Several research firms have issued reports on IAC. UBS Group lowered 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. Benchmark lowered their price target on IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays reduced their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JMP Securities lowered their target price on IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Finally, Citigroup increased their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.67.

IAC 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.