Ameriprise Financial Inc. Sells 19,898 Shares of IAC Inc. (NASDAQ:IAC)

Ameriprise Financial Inc. lowered its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 quarter.

A number of other hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its position in IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after purchasing an additional 457 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC during the 4th quarter worth approximately $41,000. MassMutual Private Wealth & Trust FSB grew its position in shares of IAC by 1,398.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company's stock worth $89,000 after buying an additional 1,916 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of IAC during the 4th quarter worth approximately $135,000. Finally, KBC Group NV grew its position in shares of IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IAC. Cowen reissued a "buy" rating on shares of IAC in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler reduced their price objective on shares of IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Citigroup reduced their price objective on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, JMP Securities reduced 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 note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.38.

IAC Stock Performance

Shares of IAC stock traded down $0.25 on Wednesday, reaching $36.91. The stock had a trading volume of 54,006 shares, compared to its average volume of 787,287. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The firm's 50-day moving average is $37.44 and its two-hundred day moving average is $42.25. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -5.66 and a beta of 1.24. IAC Inc. has a 12 month low of $32.05 and a 12 month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $809.18 million. During the same period in the prior year, the firm earned $0.51 EPS. IAC's quarterly revenue was down 8.6% compared to the same quarter last year. On average, research analysts expect that IAC Inc. will post 0.43 EPS for the current fiscal 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.