Shufro Rose & Co. LLC Has $1.30 Million Holdings in IAC Inc. (NASDAQ:IAC)

Shufro Rose & Co. LLC cut its position in IAC Inc. (NASDAQ:IAC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,800 shares of the company’s stock after selling 400 shares during the quarter. Shufro Rose & Co. LLC’s holdings in IAC were worth $1,300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAC. Spire Wealth Management grew its position in IAC by 23.1% in the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after purchasing an additional 303 shares during the last quarter. Covestor Ltd grew its position in IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares during the last quarter. Headlands Technologies LLC grew its position in IAC by 39.7% in the 3rd quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after purchasing an additional 768 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in IAC in the 3rd quarter worth $201,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in IAC in the 4th quarter worth $203,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on IAC. KeyCorp raised their price target on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. UBS Group lifted their target price on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Barclays lifted their target price on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Finally, Truist Financial lifted their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, IAC has a consensus rating of “Moderate Buy” and an average target price of $78.69.

IAC Price Performance

NASDAQ IAC traded up $0.52 during trading hours on Friday, reaching $48.62. 555,740 shares of the company’s stock were exchanged, compared to its average volume of 509,294. The stock has a market cap of $3.89 billion, a PE ratio of 19.60 and a beta of 1.32. IAC Inc. has a one year low of $41.39 and a one year high of $69.85. The firm has a fifty day moving average of $52.13 and a 200-day moving average of $50.25. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, equities research analysts predict that IAC Inc. will post -2.02 earnings per share for the current fiscal year.

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.