International Assets Investment Management LLC Makes New $2.58 Million Investment in IAC Inc. (NASDAQ:IAC)

International Assets Investment Management LLC purchased a new stake in IAC Inc. (NASDAQ:IAC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 49,237 shares of the company's stock, valued at approximately $2,579,000. International Assets Investment Management LLC owned 0.06% of IAC at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors boosted its position in shares of IAC by 3.1% during the 1st quarter. Captrust Financial Advisors now owns 8,062 shares of the company's stock worth $808,000 after purchasing an additional 246 shares during the period. DAVENPORT & Co LLC boosted its position in shares of IAC by 0.6% during the 4th quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company's stock worth $2,325,000 after purchasing an additional 271 shares during the period. Principal Financial Group Inc. boosted its position in shares of IAC by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 7,718 shares of the company's stock worth $398,000 after purchasing an additional 277 shares during the period. Covestor Ltd boosted its position in shares of IAC by 15.4% during the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company's stock worth $108,000 after purchasing an additional 286 shares during the period. Finally, Spire Wealth Management boosted its position in shares of IAC by 23.1% during the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company's stock worth $81,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Up 0.9 %

Shares of IAC traded up $0.41 during midday trading on Friday, reaching $48.00. The stock had a trading volume of 386,922 shares, compared to its average volume of 549,832. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $69.85. The company's fifty day simple moving average is $52.77 and its two-hundred day simple moving average is $50.25. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 19.35 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a negative return on equity of 4.15% and a net margin of 6.09%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts expect that IAC Inc. will post -1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of IAC from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. KeyCorp increased their target price on shares of IAC from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. Truist Financial increased their target price on shares of IAC from $77.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, February 15th. Finally, Barclays increased their target price on shares of IAC from $62.00 to $72.00 and gave the stock an "overweight" rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus target price of $78.69.

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.