Allen Investment Management LLC Has $539,000 Stock Position in IAC Inc. $IAC

Allen Investment Management LLC reduced its holdings in IAC Inc. (NASDAQ:IAC) by 53.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,774 shares of the company’s stock after selling 15,583 shares during the period. Allen Investment Management LLC’s holdings in IAC were worth $539,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Helikon Investments Ltd grew its stake in shares of IAC by 40.8% in the fourth quarter. Helikon Investments Ltd now owns 1,866,442 shares of the company’s stock worth $72,978,000 after acquiring an additional 540,643 shares during the last quarter. AQR Capital Management LLC grew its position in IAC by 43.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company’s stock worth $39,122,000 after purchasing an additional 349,969 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of IAC during the 4th quarter worth about $12,067,000. Davis Selected Advisers increased its holdings in shares of IAC by 12.1% during the 4th quarter. Davis Selected Advisers now owns 2,514,072 shares of the company’s stock worth $98,301,000 after purchasing an additional 270,383 shares during the period. Finally, Northern Right Capital Management L.P. raised its position in shares of IAC by 89.0% during the second quarter. Northern Right Capital Management L.P. now owns 568,409 shares of the company’s stock valued at $21,224,000 after buying an additional 267,731 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler set a $52.00 target price on IAC in a research report on Thursday, May 7th. UBS Group boosted their price objective on IAC from $42.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group raised their target price on IAC from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of IAC from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Finally, KeyCorp raised their price objective on shares of IAC from $41.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, IAC currently has an average rating of “Moderate Buy” and an average price target of $53.14.

IAC Stock Performance

Shares of NASDAQ:IAC opened at $42.86 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.69 and a quick ratio of 3.69. The business’s fifty day moving average price is $41.82 and its two-hundred day moving average price is $38.90. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $46.33. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 115.84 and a beta of 1.02.

Trending Headlines about IAC

Here are the key news stories impacting IAC this week:

• Positive Sentiment: IAC’s non-binding $48.30-per-share offer for the 73.9% of MGM Resorts it does not already own highlights a major strategic move that could unlock value if the deal is completed or if a higher bid emerges. PEOPLE INCORPORATED PROPOSES TO ACQUIRE MGM RESORTS INTERNATIONAL FOR $48.30 PER SHARE IN CASH
• Positive Sentiment: The MGM bid underscores the value of IAC’s capital allocation and could benefit shareholders if the market concludes the company has identified an undervalued asset with meaningful real estate and digital upside. MGM Buyout: The House Doesn’t Always Win (IAC)
• Neutral Sentiment: Analysts remain split on IAC, with some focusing on the company’s strategic opportunities and others pointing to valuation questions, keeping sentiment around the stock mixed. Analysts’ Opinions Are Mixed on These Communication Services Stocks: IAC/InteractiveCorp. (IAC) and Telefonica Brasil (VIV)
• Negative Sentiment: IAC also disclosed a reclassification of its Search segment as discontinued operations, a sign of ongoing restructuring that adds uncertainty as the company prepares to become People Incorporated. IAC Reclassifies Search Segment as Discontinued Operations

IAC Company 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.