IAC Inc. (NASDAQ:IAC) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC boosted its position in IAC Inc. (NASDAQ:IAC) by 171.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,895 shares of the company’s stock after purchasing an additional 68,816 shares during the period. CIBC Private Wealth Group LLC owned about 0.14% of IAC worth $4,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of IAC in the 4th quarter valued at approximately $41,000. Quarry LP raised its position in IAC by 408.9% in the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in IAC by 1,398.5% in 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 in the last quarter. Allworth Financial LP lifted its holdings in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after acquiring an additional 3,079 shares during the period. Finally, KBC Group NV boosted its position in shares of IAC by 22.8% during the 4th quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IAC. Oppenheimer cut their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citigroup lifted their price target on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Barclays lowered their price target on IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Truist Financial reduced 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. Finally, Piper Sandler lowered IAC from an “overweight” rating to a “neutral” rating and lowered 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 eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.31.

IAC Trading Down 14.5 %

IAC stock opened at $39.26 on Wednesday. The stock has a 50-day moving average price of $44.91 and a 200 day moving average price of $47.11. IAC Inc. has a 52 week low of $37.76 and a 52 week high of $58.29. The stock has a market cap of $3.04 billion, a PE ratio of -6.02 and a beta of 1.29. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31.

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.