Renaissance Technologies LLC Increases Position in IAC Inc. (NASDAQ:IAC)

Renaissance Technologies LLC lifted its position in shares of IAC Inc. (NASDAQ:IAC) by 82.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,627 shares of the company’s stock after purchasing an additional 44,500 shares during the period. Renaissance Technologies LLC owned about 0.12% of IAC worth $4,255,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IAC. Commonwealth Equity Services LLC increased its holdings in shares of IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of IAC by 287.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after buying an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of IAC by 1.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock valued at $1,654,000 after buying an additional 531 shares in the last quarter. KBC Group NV grew its position in shares of 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 last quarter. Finally, Sanctuary Advisors LLC raised its stake in IAC by 0.7% during the 4th quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock worth $4,188,000 after acquiring an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on IAC shares. 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $60.00 price target on shares of IAC in a research report on Friday, March 21st. Truist Financial decreased their price objective on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Benchmark cut their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer lowered their price objective on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

IAC Stock Down 0.4 %

IAC stock opened at $32.90 on Tuesday. IAC Inc. has a 52 week low of $32.05 and a 52 week high of $58.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.55 billion, a P/E ratio of -5.05 and a beta of 1.24. The company’s 50-day moving average price is $42.41 and its 200 day moving average price is $45.04.

About IAC

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.