IAC Inc. $IAC Shares Bought by UBS Group AG

Key Points

• UBS Group AG increased its stake in IAC by 11.4% in the fourth quarter, buying an additional 79,755 shares and bringing its holdings to 781,195 shares worth about $30.5 million.
• Other institutional investors also boosted their positions in IAC, and the stock is now 88.9% owned by institutional investors and hedge funds.
• Analysts remain generally upbeat on IAC, with nine Buy ratings and an average target price of $53.14, above the stock’s recent opening price of $44.06.

UBS Group AG grew its position in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 781,195 shares of the company's stock after purchasing an additional 79,755 shares during the quarter. UBS Group AG owned 1.09% of IAC worth $30,545,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of IAC. Patient Capital Management LLC increased its position in shares of IAC by 21.2% during the 3rd quarter. Patient Capital Management LLC now owns 2,108,245 shares of the company's stock valued at $71,828,000 after purchasing an additional 369,239 shares during the period. AQR Capital Management LLC increased its position in shares of IAC by 43.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,148,280 shares of the company's stock valued at $39,122,000 after purchasing an additional 349,969 shares during the period. Northern Right Capital Management L.P. increased its position in shares of IAC by 89.0% during the 2nd quarter. Northern Right Capital Management L.P. now owns 568,409 shares of the company's stock valued at $21,224,000 after purchasing an additional 267,731 shares during the period. Highbridge Capital Management LLC increased its position in shares of IAC by 68.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 484,325 shares of the company's stock valued at $16,501,000 after purchasing an additional 197,590 shares during the period. Finally, Bank of America Corp DE increased its position in shares of IAC by 47.1% during the 2nd quarter. Bank of America Corp DE now owns 601,586 shares of the company's stock valued at $22,463,000 after purchasing an additional 192,743 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Performance

Shares of IAC stock opened at $44.06 on Friday. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $45.82. The company has a current ratio of 3.69, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 119.08 and a beta of 1.03. The stock's fifty day simple moving average is $40.37 and its 200-day simple moving average is $37.82.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler set a $52.00 target price on IAC in a report on Thursday. Citigroup lifted their target price on IAC from $44.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen lifted their target price on IAC from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Needham & Company LLC set a $57.00 target price on IAC in a report on Tuesday, March 3rd. Finally, KeyCorp lifted their target price on IAC from $41.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.

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