Headlands Technologies LLC Invests $175,000 in IAC Inc. (NASDAQ:IAC)

Headlands Technologies LLC purchased a new stake in IAC Inc. (NASDAQ:IAC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,059 shares of the company’s stock, valued at approximately $175,000.

A number of other institutional investors have also modified their holdings of IAC. Wellington Management Group LLP bought a new stake in IAC in the fourth quarter valued at $439,000. CIBC Private Wealth Group LLC raised its stake in IAC by 171.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 108,895 shares of the company’s stock valued at $4,540,000 after acquiring an additional 68,816 shares in the last quarter. California Public Employees Retirement System lifted its holdings in IAC by 58.2% in the fourth quarter. California Public Employees Retirement System now owns 250,434 shares of the company’s stock worth $10,804,000 after purchasing an additional 92,143 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of IAC by 129.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 34,111 shares of the company’s stock worth $1,472,000 after buying an additional 19,216 shares in the last quarter. Finally, Highbridge Capital Management LLC lifted its stake in shares of IAC by 223.5% in the 4th quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company’s stock worth $15,172,000 after acquiring an additional 242,982 shares during the period. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

IAC has been the subject of a number of research analyst reports. Barclays cut their target price on 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 cut their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price objective on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup upped their target price on IAC from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

IAC Stock Down 3.5 %

Shares of IAC stock opened at $35.47 on Friday. IAC Inc. has a 12-month low of $35.26 and a 12-month high of $58.29. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $44.64 and a two-hundred day moving average price of $46.82. The stock has a market capitalization of $2.75 billion, a P/E ratio of -5.44 and a beta of 1.24.

About IAC

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.