International Assets Investment Management LLC Makes New Investment in IAC Inc. (NASDAQ:IAC)

International Assets Investment Management LLC purchased a new stake in IAC Inc. (NASDAQ:IAC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 49,237 shares of the company’s stock, valued at approximately $2,579,000. International Assets Investment Management LLC owned about 0.06% of IAC as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its holdings in IAC by 204.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company’s stock worth $38,000 after buying an additional 490 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of IAC by 71.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,149 shares of the company’s stock worth $72,000 after purchasing an additional 480 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of IAC during the 1st quarter worth approximately $72,000. MetLife Investment Management LLC bought a new position in shares of IAC during the 1st quarter worth approximately $153,000. Finally, Spire Wealth Management boosted its stake in shares of IAC by 23.1% during the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after acquiring an additional 303 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IAC shares. KeyCorp lifted their target price on IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. UBS Group upped their target price on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Barclays upped their target price on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their price target on IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Stock Up 1.1 %

Shares of IAC stock opened at $47.59 on Friday. The stock’s 50-day moving average is $52.77 and its 200 day moving average is $50.25. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 19.19 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. IAC Inc. has a one year low of $41.39 and a one year high of $69.85.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. Equities research analysts anticipate that IAC Inc. will post -1.99 EPS for the current year.

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.