CIBC Private Wealth Group LLC Buys 68,816 Shares of IAC Inc. (NASDAQ:IAC)

CIBC Private Wealth Group LLC increased its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 171.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,895 shares of the company's stock after acquiring an additional 68,816 shares during the period. CIBC Private Wealth Group LLC owned about 0.14% of IAC worth $4,540,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new position in IAC during the fourth quarter worth $41,000. Quarry LP increased its position in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company's stock worth $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased 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 purchasing an additional 1,916 shares in the last quarter. KBC Group NV lifted its holdings in IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company's stock valued at $141,000 after purchasing an additional 608 shares during the last quarter. Finally, Allworth Financial LP boosted its position in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company's stock valued at $139,000 after buying an additional 3,079 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler lowered shares of IAC from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $68.00 to $54.00 in a report on Tuesday, December 10th. Benchmark dropped their price target on IAC from $105.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, February 13th. JMP Securities reduced their price objective on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. KeyCorp increased their target price on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Oppenheimer cut their price target on IAC from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.31.

IAC Trading Down 3.5 %

Shares of NASDAQ:IAC traded down $1.29 during trading on Friday, hitting $35.47. 1,966,466 shares of the company's stock were exchanged, compared to its average volume of 802,021. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.75 billion, a P/E ratio of -5.44 and a beta of 1.24. The firm has a 50-day moving average price of $44.64 and a two-hundred day moving average price of $46.77. IAC Inc. has a 1-year low of $35.26 and a 1-year high of $58.29.

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.