Alliancebernstein L.P. Reduces Position in IAC Inc. (NASDAQ:IAC)

Alliancebernstein L.P. trimmed its position in shares of IAC Inc. (NASDAQ:IAC) by 16.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 34,176 shares of the company’s stock after selling 6,831 shares during the quarter. Alliancebernstein L.P.’s holdings in IAC were worth $1,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAC. Bank Julius Baer & Co. Ltd Zurich purchased a new position in IAC in the 4th quarter worth about $41,000. MassMutual Private Wealth & Trust FSB increased its position in shares of IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after acquiring an additional 1,916 shares during the period. Allworth Financial LP increased its position in shares of IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after acquiring an additional 3,079 shares during the period. KBC Group NV raised its stake in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock valued at $141,000 after acquiring an additional 608 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of IAC by 17.1% in the fourth quarter. LPL Financial LLC now owns 5,016 shares of the company’s stock valued at $216,000 after purchasing an additional 733 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their price objective on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. UBS Group cut their price target on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Oppenheimer lowered their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $60.00 target price on shares of IAC in a research report on Friday, March 21st. Finally, JMP Securities reduced their price target 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Trading Up 0.8 %

IAC stock opened at $33.02 on Friday. 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 stock has a market cap of $2.56 billion, a PE ratio of -5.06 and a beta of 1.24. The stock has a 50-day moving average of $42.78 and a two-hundred day moving average of $45.39. IAC Inc. has a one year low of $32.05 and a one year high of $58.29.

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.