Greenland Capital Management LP Sells 40,982 Shares of IAC Inc. (NASDAQ:IAC)

Greenland Capital Management LP trimmed its position in IAC Inc. (NASDAQ:IAC) by 63.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,116 shares of the company’s stock after selling 40,982 shares during the period. Greenland Capital Management LP’s holdings in IAC were worth $997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IAC. Aster Capital Management DIFC Ltd boosted its stake in shares of IAC by 287.4% in 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. Bank Julius Baer & Co. Ltd Zurich bought a new stake in IAC during the fourth quarter worth $41,000. Quarry LP boosted 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 purchasing an additional 785 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 purchasing an additional 1,916 shares during the last quarter. Finally, Allworth Financial LP grew 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 purchasing an additional 3,079 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Trading Down 2.7 %

Shares of IAC stock opened at $34.53 on Tuesday. The company’s 50-day moving average price is $44.46 and its 200-day moving average price is $46.63. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. IAC Inc. has a 12-month low of $33.13 and a 12-month high of $58.29. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -5.30 and a beta of 1.24.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $60.00 target price on shares of IAC in a research note on Friday, March 21st. JMP Securities lowered their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Barclays reduced their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. UBS Group decreased their price target on shares of IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Benchmark dropped their price objective on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.31.

IAC 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.