Freshford Capital Management LLC Reduces Position in IAC Inc. (NASDAQ:IAC)

Freshford Capital Management LLC decreased its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 69.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 342,715 shares of the company's stock after selling 794,296 shares during the quarter. IAC makes up 4.2% of Freshford Capital Management LLC's portfolio, making the stock its 10th biggest position. Freshford Capital Management LLC owned 0.43% of IAC worth $14,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in IAC by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after purchasing an additional 43,772 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in IAC by 9.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,583,367 shares of the company's stock worth $68,306,000 after buying an additional 130,604 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IAC by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company's stock worth $41,728,000 after acquiring an additional 19,148 shares in the last quarter. Norges Bank bought a new stake in shares of IAC in the 4th quarter valued at approximately $38,817,000. Finally, Joel Isaacson & Co. LLC raised its position in shares of IAC by 553.6% during the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock valued at $18,302,000 after acquiring an additional 359,327 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays decreased their price objective on shares of IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. JMP Securities decreased their price target on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Oppenheimer dropped their price objective on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their target price on IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $62.15.

IAC Stock Performance

Shares of IAC traded down $0.20 during trading hours on Monday, reaching $35.36. 330,370 shares of the company's stock traded hands, compared to its average volume of 838,247. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $58.29. The business's fifty day simple moving average is $41.40 and its two-hundred day simple moving average is $44.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.43 and a beta of 1.24.

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.