Ameriprise Financial Inc. Decreases Stock Holdings in IAC Inc. (NASDAQ:IAC)

Ameriprise Financial Inc. lessened its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,753 shares of the company's stock after selling 19,898 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.21% of IAC worth $7,151,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its position in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after purchasing an additional 457 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC during the fourth quarter valued at $41,000. MassMutual Private Wealth & Trust FSB increased its position in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock valued at $89,000 after acquiring an additional 1,916 shares during the last quarter. Aquatic Capital Management LLC bought a new position in IAC during the fourth quarter valued at $135,000. Finally, KBC Group NV increased its position in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after acquiring an additional 608 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IAC. Barclays cut their price objective on shares of IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Benchmark cut their price objective on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. JMP Securities cut their price objective on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. UBS Group cut their price objective on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.38.

IAC Stock Down 0.6%

NASDAQ:IAC traded down $0.22 during mid-day trading on Friday, reaching $36.31. The company's stock had a trading volume of 889,421 shares, compared to its average volume of 790,465. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $55.40. The stock has a fifty day moving average of $37.91 and a 200-day moving average of $42.49. The firm has a market capitalization of $2.69 billion, a PE ratio of -5.57 and a beta of 1.24. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping analysts' consensus estimates of ($3.94) by $1.14. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The company had revenue of $570.49 million during the quarter, compared to analyst estimates of $809.18 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts forecast that IAC Inc. will post 0.43 earnings per share for the current year.

About IAC

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.