Nisa Investment Advisors LLC Decreases Stake in IAC Inc. (NASDAQ:IAC)

Nisa Investment Advisors LLC reduced its position in IAC Inc. (NASDAQ:IAC) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,070 shares of the company’s stock after selling 430 shares during the period. Nisa Investment Advisors LLC’s holdings in IAC were worth $789,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. grew its position in shares of IAC by 204.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company’s stock valued at $38,000 after purchasing an additional 490 shares in the last quarter. Lazard Asset Management LLC boosted its stake in IAC by 71.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,149 shares of the company’s stock worth $72,000 after purchasing an additional 480 shares during the period. Acadian Asset Management LLC bought a new position in IAC in the 1st quarter worth about $72,000. Spire Wealth Management grew its holdings in IAC by 23.1% during the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after buying an additional 286 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IAC shares. UBS Group raised their price objective 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. Truist Financial raised their price target on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 15th. KeyCorp upped their price target on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Finally, Barclays increased their price objective on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Trading Down 1.1 %

NASDAQ IAC opened at $47.37 on Wednesday. The stock’s 50-day simple moving average is $52.96 and its two-hundred day simple moving average is $50.29. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $69.85. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 19.10 and a beta of 1.32.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Research analysts forecast that IAC Inc. will post -1.99 EPS 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.