Hsbc Holdings PLC Increases Stake in IAC Inc. (NASDAQ:IAC)

Hsbc Holdings PLC raised its stake in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 3.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,271 shares of the company’s stock after acquiring an additional 505 shares during the period. Hsbc Holdings PLC’s holdings in IAC were worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IAC. Boyar Asset Management Inc. grew its holdings in shares of IAC by 1.9% in the second quarter. Boyar Asset Management Inc. now owns 8,581 shares of the company’s stock valued at $652,000 after purchasing an additional 164 shares in the last quarter. Greenleaf Trust grew its holdings in shares of IAC by 6.9% in the second quarter. Greenleaf Trust now owns 3,185 shares of the company’s stock valued at $242,000 after purchasing an additional 205 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of IAC by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 30,781 shares of the company’s stock valued at $2,339,000 after purchasing an additional 209 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of IAC by 3.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the company’s stock valued at $416,000 after purchasing an additional 246 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of IAC by 3.1% in the first quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock valued at $808,000 after purchasing an additional 246 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Up 2.0 %

NASDAQ:IAC opened at $52.58 on Friday. IAC Inc. has a twelve month low of $41.52 and a twelve month high of $115.77. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -3.89 and a beta of 1.13. The stock has a fifty day simple moving average of $51.59 and a 200-day simple moving average of $53.34. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IAC shares. UBS Group raised shares of IAC from a “sell” rating to a “neutral” rating and raised their target price for the company from $46.00 to $54.00 in a report on Wednesday, February 15th. Cowen dropped their price objective on shares of IAC to $75.00 in a research note on Tuesday, November 15th. Cowen dropped their price objective on shares of IAC from $124.00 to $80.00 in a research note on Monday, November 7th. Credit Suisse Group lifted their price objective on shares of IAC from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Finally, StockNews.com raised shares of IAC from a “sell” rating to a “hold” rating in a research note on Wednesday, February 15th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.13.

IAC Company Profile

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.