HighTower Advisors LLC Has $1.56 Million Stock Holdings in IAC Inc. (NASDAQ:IAC)

HighTower Advisors LLC decreased its holdings in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,727 shares of the company’s stock after selling 2,028 shares during the quarter. HighTower Advisors LLC’s holdings in IAC were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its position in IAC by 20.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,339 shares of the company’s stock worth $535,000 after buying an additional 897 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of IAC by 15.7% during the first quarter. American Century Companies Inc. now owns 4,292 shares of the company’s stock worth $430,000 after acquiring an additional 582 shares in the last quarter. Bank of Montreal Can boosted its position in IAC by 161.5% during the first quarter. Bank of Montreal Can now owns 12,479 shares of the company’s stock valued at $1,304,000 after purchasing an additional 7,707 shares during the last quarter. MetLife Investment Management LLC purchased a new position in IAC in the first quarter valued at about $153,000. Finally, Panagora Asset Management Inc. grew its stake in IAC by 98.7% in the first quarter. Panagora Asset Management Inc. now owns 14,912 shares of the company’s stock valued at $1,495,000 after purchasing an additional 7,406 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAC has been the subject of several research reports. Oppenheimer lifted their price target on IAC from $70.00 to $75.00 in a report on Thursday, May 11th. Jefferies Financial Group boosted their target price on shares of IAC from $70.00 to $80.00 in a research report on Thursday, May 18th. Barclays increased their price target on shares of IAC from $75.00 to $85.00 in a research note on Thursday, May 11th. Piper Sandler lifted their price objective on shares of IAC from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Finally, Credit Suisse Group increased their target price on shares of IAC from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.13.

IAC Stock Performance

Shares of NASDAQ IAC opened at $55.67 on Friday. IAC Inc. has a 12 month low of $41.52 and a 12 month high of $90.68. The company has a market cap of $4.46 billion, a P/E ratio of -8.96 and a beta of 1.13. The business’s 50 day moving average is $52.47 and its two-hundred day moving average is $50.91. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($2.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($1.04). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 5.97% and a negative net margin of 10.34%. On average, equities analysts expect that IAC Inc. will post -2.84 EPS for the current year.

IAC Company Profile

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.