Renaissance Technologies LLC Buys 44,500 Shares of IAC Inc. (NASDAQ:IAC)

Renaissance Technologies LLC lifted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 82.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,627 shares of the company's stock after buying an additional 44,500 shares during the period. Renaissance Technologies LLC owned about 0.12% of IAC worth $4,255,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its position in shares of IAC by 24.7% during the 4th quarter. Invesco Ltd. now owns 341,507 shares of the company's stock worth $14,733,000 after buying an additional 67,746 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of IAC during the fourth quarter valued at approximately $395,000. Yakira Capital Management Inc. lifted its holdings in IAC by 34.9% during the fourth quarter. Yakira Capital Management Inc. now owns 136,649 shares of the company's stock worth $5,895,000 after acquiring an additional 35,333 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after acquiring an additional 457 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in IAC by 6.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 16,733 shares of the company's stock worth $722,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

IAC has been the subject of several research analyst reports. KeyCorp raised their target price on IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. JMP Securities decreased their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Tuesday. Barclays reduced their target price on shares of IAC from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial lowered their price target on shares of IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.15.

IAC Price Performance

NASDAQ:IAC traded up $0.38 during midday trading on Friday, hitting $35.55. The company had a trading volume of 673,423 shares, compared to its average volume of 839,100. The stock's fifty day moving average price is $41.40 and its 200-day moving average price is $44.66. IAC Inc. has a 52-week low of $32.05 and a 52-week high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.75 billion, a PE ratio of -5.45 and a beta of 1.24.

IAC 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.