First Trust Advisors LP Sells 38,427 Shares of IAC Inc. (NASDAQ:IAC)

First Trust Advisors LP reduced its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 15.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,298 shares of the company's stock after selling 38,427 shares during the quarter. First Trust Advisors LP owned 0.25% of IAC worth $8,770,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Guggenheim Capital LLC acquired a new stake in IAC during the 4th quarter worth approximately $211,000. Raymond James Financial Inc. acquired a new stake in shares of IAC during the fourth quarter worth $8,015,000. Renaissance Technologies LLC lifted its position in IAC by 82.2% in the 4th quarter. Renaissance Technologies LLC now owns 98,627 shares of the company's stock valued at $4,255,000 after acquiring an additional 44,500 shares in the last quarter. Invesco Ltd. boosted its stake in IAC by 24.7% in the 4th quarter. Invesco Ltd. now owns 341,507 shares of the company's stock worth $14,733,000 after purchasing an additional 67,746 shares during the period. Finally, Bank of Montreal Can bought a new position in IAC during the 4th quarter worth about $395,000. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Performance

Shares of IAC stock traded down $0.13 during midday trading on Friday, hitting $35.31. 668,257 shares of the company were exchanged, compared to its average volume of 843,701. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. IAC Inc. has a 52 week low of $32.05 and a 52 week high of $58.29. The firm's 50 day moving average price is $40.53 and its two-hundred day moving average price is $44.19.

Analyst Ratings Changes

A number of research analysts recently issued reports on IAC shares. JMP Securities decreased their price objective on IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Truist Financial lowered their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. KeyCorp increased their target price on shares of IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Oppenheimer cut their price target on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup reduced their price target on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.15.

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.