Yakira Capital Management Inc. Has $5.90 Million Position in IAC Inc. (NASDAQ:IAC)

Yakira Capital Management Inc. raised its holdings in IAC Inc. (NASDAQ:IAC) by 34.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 136,649 shares of the company’s stock after buying an additional 35,333 shares during the quarter. IAC accounts for approximately 2.2% of Yakira Capital Management Inc.’s holdings, making the stock its 13th biggest holding. Yakira Capital Management Inc. owned approximately 0.17% of IAC worth $5,895,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd raised its position in IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of IAC in the 4th quarter valued at approximately $41,000. Quarry LP raised its holdings in shares of IAC by 408.9% in the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after buying an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of IAC by 1,398.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock worth $89,000 after buying an additional 1,916 shares during the period. Finally, Allworth Financial LP boosted 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 in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IAC. Barclays cut their price objective on IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. UBS Group cut their price target 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. Benchmark decreased their price objective 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. Piper Sandler cut shares of IAC from an “overweight” rating to a “neutral” rating and cut their target price for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Finally, KeyCorp increased their price target on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Stock Down 3.5 %

Shares of NASDAQ:IAC opened at $35.47 on Friday. The company has a 50 day moving average of $44.64 and a 200-day moving average of $46.82. IAC Inc. has a one year low of $35.26 and a one year high of $58.29. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -5.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

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.