M&T Bank Corp Decreases Position in IAC Inc. (NASDAQ:IAC)

M&T Bank Corp decreased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 31.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,789 shares of the company’s stock after selling 2,670 shares during the quarter. M&T Bank Corp’s holdings in IAC were worth $249,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in IAC by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock worth $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp increased its position in IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after buying an additional 28,577 shares during the period. Geode Capital Management LLC increased its position in IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after buying an additional 25,909 shares during the period. Charles Schwab Investment Management Inc. increased its position in IAC by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after buying an additional 19,148 shares during the period. Finally, Joel Isaacson & Co. LLC increased its position in IAC by 553.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after buying an additional 359,327 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 2.4 %

IAC opened at $44.56 on Friday. The business’s fifty day moving average is $43.68 and its two-hundred day moving average is $47.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -6.83 and a beta of 1.29. IAC Inc. has a one year low of $39.61 and a one year high of $58.29.

Analysts Set New Price Targets

Several research analysts have commented on IAC shares. Citigroup lifted their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Oppenheimer cut their price target on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Benchmark dropped their target price on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. JMP Securities dropped their target price on IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

IAC Company 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.