Brown Advisory Inc. Buys 357,442 Shares of IAC Inc. (NASDAQ:IAC)

Brown Advisory Inc. lifted its stake in shares of IAC Inc. (NASDAQ:IAC) by 87.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 764,187 shares of the company’s stock after purchasing an additional 357,442 shares during the period. Brown Advisory Inc. owned 0.95% of IAC worth $32,967,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC lifted its stake in IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after acquiring an additional 54,797 shares during the last quarter. Franklin Resources Inc. lifted its stake in IAC by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after purchasing an additional 686 shares during the last quarter. Fortis Advisors LLC grew its holdings in IAC by 23.3% during the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock worth $416,000 after purchasing an additional 1,825 shares during the period. Assenagon Asset Management S.A. increased its position in IAC by 452.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock worth $4,438,000 after buying an additional 84,259 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new stake in IAC in the fourth quarter valued at approximately $7,794,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Stock Performance

Shares of IAC stock opened at $35.35 on Tuesday. The company’s 50 day moving average price is $40.12 and its two-hundred day moving average price is $43.80. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.42 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. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IAC. JPMorgan Chase & Co. decreased their target price on IAC from $60.00 to $45.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. UBS Group decreased their price objective on shares of IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Benchmark reduced their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citigroup decreased their price target on shares of IAC from $47.55 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial cut their price objective on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

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.