Raymond James Financial Inc. Invests $8.02 Million in IAC Inc. (NASDAQ:IAC)

Raymond James Financial Inc. bought a new stake in shares of IAC Inc. (NASDAQ:IAC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 185,790 shares of the company’s stock, valued at approximately $8,015,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after acquiring an additional 785 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares during the period. Allworth Financial LP increased its stake in IAC by 1,193.4% in the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after buying an additional 3,079 shares during the period. KBC Group NV increased its stake in IAC by 22.8% in the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after buying an additional 608 shares during the period. Finally, Captrust Financial Advisors acquired a new position in IAC in the 3rd quarter valued at approximately $282,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IAC shares. Benchmark dropped their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. KeyCorp upped their price objective on shares of IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. UBS Group decreased their price objective on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. 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. Finally, Citigroup upped their price objective on shares of IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Price Performance

Shares of IAC stock opened at $48.39 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. IAC Inc. has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The firm has a fifty day moving average price of $44.25 and a two-hundred day moving average price of $47.33. The company has a market cap of $3.75 billion, a PE ratio of -7.42 and a beta of 1.29.

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.