M&T Bank Corp Reduces Holdings in IAC Inc. (NASDAQ:IAC)

M&T Bank Corp trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 31.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,789 shares of the company’s stock after selling 2,670 shares during the quarter. M&T Bank Corp’s holdings in IAC were worth $249,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Quarry LP increased its position in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares in the last quarter. Allworth Financial LP grew its holdings in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after buying an additional 3,079 shares in the last quarter. KBC Group NV grew its holdings in IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after buying an additional 608 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in IAC in the 3rd quarter valued at $282,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IAC has been the subject of several analyst reports. 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. Barclays dropped their target price on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial lowered their price target on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a 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. Finally, Citigroup increased their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.67.

IAC Price Performance

IAC stock opened at $44.56 on Friday. 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 firm has a market capitalization of $3.45 billion, a P/E ratio of -6.83 and a beta of 1.29. The business’s 50-day moving average is $43.68 and its two-hundred day moving average is $47.48. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29.

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.