AREX Capital Management LP Increases Holdings in IAC Inc. (NASDAQ:IAC)

AREX Capital Management LP grew its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 454.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,500 shares of the company's stock after purchasing an additional 22,540 shares during the period. IAC makes up 1.7% of AREX Capital Management LP's investment portfolio, making the stock its 12th biggest holding. AREX Capital Management LP's holdings in IAC were worth $1,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IAC. Barclays PLC grew its position in IAC by 922.5% in the 3rd quarter. Barclays PLC now owns 60,737 shares of the company's stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. Franklin Resources Inc. lifted its stake in shares of IAC by 6.7% in the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock valued at $577,000 after buying an additional 686 shares in the last quarter. Fortis Advisors LLC grew its holdings in shares of IAC by 23.3% during the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company's stock valued at $416,000 after buying an additional 1,825 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of IAC by 452.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company's stock worth $4,438,000 after acquiring an additional 84,259 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of IAC in the 4th quarter worth about $7,794,000. Institutional investors own 88.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark cut their price target on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer lowered their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Barclays dropped their price objective on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial reduced their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus price target of $61.00.

IAC Stock Performance

NASDAQ IAC traded up $0.04 during trading on Monday, hitting $35.35. 1,022,480 shares of the company's stock traded hands, compared to its average volume of 773,068. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -5.42 and a beta of 1.24. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $58.29. The business has a 50 day moving average of $40.12 and a 200-day moving average of $43.80.

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.