Raymond James Financial Services Advisors Inc. Reduces Stake in IAC Inc. (NASDAQ:IAC)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of IAC Inc. (NASDAQ:IACFree Report) by 19.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,303 shares of the company’s stock after selling 30,215 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.15% of IAC worth $6,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in 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 acquiring an additional 246 shares during the period. Principal Financial Group Inc. increased its stake in IAC by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 7,718 shares of the company’s stock worth $398,000 after buying an additional 277 shares in the last quarter. Covestor Ltd raised its holdings in IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after acquiring an additional 286 shares during the period. Spire Wealth Management lifted its position in shares of IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after acquiring an additional 303 shares in the last quarter. Finally, Marco Investment Management LLC boosted its stake in shares of IAC by 1.5% in the second quarter. Marco Investment Management LLC now owns 21,067 shares of the company’s stock worth $1,323,000 after acquiring an additional 321 shares during the period. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on IAC. KeyCorp lifted their target price on IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. UBS Group boosted 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. Truist Financial raised their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Barclays raised their price objective on IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average target price of $78.69.

Read Our Latest Research Report on IAC

IAC Stock Performance

IAC stock opened at $52.61 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market capitalization of $4.21 billion, a P/E ratio of 21.21 and a beta of 1.32. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $69.85. The company’s 50-day moving average is $53.12 and its 200 day moving average is $50.35.

IAC (NASDAQ:IACGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Research analysts forecast that IAC Inc. will post -1.99 EPS for the current year.

About IAC

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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