Whitebox Advisors LLC Acquires 106,000 Shares of IAC Inc. (NASDAQ:IAC)

Whitebox Advisors LLC increased its position in IAC Inc. (NASDAQ:IAC - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 939,259 shares of the company's stock after purchasing an additional 106,000 shares during the quarter. IAC makes up 1.2% of Whitebox Advisors LLC's portfolio, making the stock its 19th biggest position. Whitebox Advisors LLC owned 1.17% of IAC worth $40,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in IAC during the 4th quarter worth $38,817,000. Joel Isaacson & Co. LLC boosted its position in shares of IAC by 553.6% in the 4th quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after purchasing an additional 359,327 shares during the last quarter. Highbridge Capital Management LLC grew its stake in shares of IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock worth $15,172,000 after purchasing an additional 242,982 shares during the period. Proficio Capital Partners LLC grew its stake in shares of IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock worth $9,897,000 after purchasing an additional 224,131 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in IAC in the fourth quarter valued at about $8,015,000. 88.90% of the stock is owned by institutional investors.

IAC Stock Down 0.4 %

Shares of NASDAQ:IAC traded down $0.13 during trading on Friday, hitting $35.31. 668,257 shares of the company were exchanged, compared to its average volume of 772,064. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -5.42 and a beta of 1.24. 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 fifty day moving average price of $40.32 and a two-hundred day moving average price of $44.00.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp boosted their target price on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Benchmark cut their target price on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price target on shares of IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, 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. 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, IAC currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.15.

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.