PenderFund Capital Management Ltd. cut its position in shares of IAC Inc. (NASDAQ:IAC – Free Report) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,100 shares of the company’s stock after selling 2,600 shares during the quarter. PenderFund Capital Management Ltd.’s holdings in IAC were worth $2,171,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IAC. Nomura Asset Management Co. Ltd. increased its holdings in IAC by 204.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company’s stock valued at $38,000 after buying an additional 490 shares during the period. Spire Wealth Management boosted its holdings in IAC by 255.0% during the first quarter. Spire Wealth Management now owns 859 shares of the company’s stock valued at $44,000 after purchasing an additional 617 shares in the last quarter. National Bank of Canada FI grew its stake in shares of IAC by 58.8% in the 2nd quarter. National Bank of Canada FI now owns 1,131 shares of the company’s stock valued at $71,000 after purchasing an additional 419 shares during the period. Acadian Asset Management LLC acquired a new position in shares of IAC in the 1st quarter worth approximately $72,000. Finally, CWM LLC lifted its position in shares of IAC by 58.9% during the 2nd quarter. CWM LLC now owns 1,346 shares of the company’s stock worth $85,000 after buying an additional 499 shares during the period. 85.60% of the stock is currently owned by institutional investors.
IAC Trading Down 1.1 %
IAC stock traded down $0.53 during midday trading on Tuesday, reaching $47.99. The company’s stock had a trading volume of 134,965 shares, compared to its average volume of 698,840. The business’s 50-day simple moving average is $47.61 and its 200-day simple moving average is $55.82. The stock has a market cap of $3.84 billion, a PE ratio of -39.13 and a beta of 1.27. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $69.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.31.
Analyst Upgrades and Downgrades
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.
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