Jefferies Financial Group Inc. Acquires New Shares in IAC Inc. $IAC

Jefferies Financial Group Inc. acquired a new stake in IAC Inc. (NASDAQ:IAC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,340 shares of the company’s stock, valued at approximately $443,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IAC. Goldman Sachs Group Inc. increased its holdings in IAC by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock valued at $19,087,000 after purchasing an additional 115,652 shares during the last quarter. United Services Automobile Association acquired a new position in IAC in the first quarter valued at about $207,000. Empowered Funds LLC grew its stake in IAC by 9.8% in the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after acquiring an additional 718 shares during the period. Focus Partners Wealth acquired a new position in IAC in the first quarter valued at about $270,000. Finally, Creative Planning grew its stake in IAC by 8.8% in the second quarter. Creative Planning now owns 11,619 shares of the company’s stock valued at $434,000 after acquiring an additional 944 shares during the period. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $44.89 on Friday. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $45.82. The firm has a market capitalization of $3.08 billion, a PE ratio of 121.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.69 and a current ratio of 3.69. The business’s 50-day simple moving average is $41.68 and its 200 day simple moving average is $38.78.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IAC shares. UBS Group boosted their target price on IAC from $42.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Citigroup boosted their target price on IAC from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC set a $57.00 target price on IAC in a research note on Tuesday, March 3rd. Jefferies Financial Group cut IAC from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut IAC from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.14.

IAC Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.