Heritage Investors Management Corp Cuts Stock Holdings in IAC Inc. $IAC

Heritage Investors Management Corp lowered its position in IAC Inc. (NASDAQ:IAC) by 56.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,685 shares of the company’s stock after selling 30,318 shares during the quarter. Heritage Investors Management Corp’s holdings in IAC were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC purchased a new stake in shares of IAC during the fourth quarter valued at approximately $25,000. Handelsbanken Fonder AB boosted its stake in shares of IAC by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 14,700 shares of the company’s stock valued at $575,000 after purchasing an additional 700 shares during the period. Empowered Funds LLC boosted its stake in shares of IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock valued at $369,000 after purchasing an additional 718 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of IAC by 3.2% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 23,062 shares of the company’s stock valued at $786,000 after purchasing an additional 725 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of IAC by 2.6% during the third quarter. Alliancebernstein L.P. now owns 31,800 shares of the company’s stock valued at $1,083,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Up 2.1%

NASDAQ IAC opened at $42.03 on Friday. IAC Inc. has a 12 month low of $29.56 and a 12 month high of $45.82. The stock has a market cap of $2.88 billion, a P/E ratio of 113.60 and a beta of 1.03. The stock’s fifty day moving average price is $41.09 and its 200-day moving average price is $38.40. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30.

Wall Street Analysts Forecast Growth

IAC has been the subject of a number of analyst reports. KeyCorp increased their price objective on IAC from $41.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. UBS Group increased their price objective on IAC from $42.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Citigroup increased their price objective on IAC from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings raised IAC from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.14.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data?driven journalism across more than a dozen specialty sites.