IAC Inc. (NASDAQ:IAC) Shares Sold by Cove Street Capital LLC

Cove Street Capital LLC trimmed its holdings in shares of IAC Inc. (NASDAQ:IAC) by 39.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,503 shares of the company’s stock after selling 51,931 shares during the period. IAC makes up approximately 4.1% of Cove Street Capital LLC’s investment portfolio, making the stock its 7th largest holding. Cove Street Capital LLC owned 0.10% of IAC worth $3,473,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in IAC in the fourth quarter worth approximately $38,817,000. Joel Isaacson & Co. LLC lifted its holdings in shares of IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock valued at $18,302,000 after buying an additional 359,327 shares during the period. Highbridge Capital Management LLC boosted its stake in IAC by 223.5% during the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company’s stock valued at $15,172,000 after buying an additional 242,982 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in IAC by 4,238.5% during the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company’s stock worth $9,897,000 after acquiring an additional 224,131 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in IAC in the fourth quarter worth about $8,015,000. 88.90% of the stock is currently owned by institutional investors.

IAC Stock Down 5.2 %

Shares of IAC stock opened at $46.32 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -7.10 and a beta of 1.29. The stock has a 50-day simple moving average of $44.90 and a 200-day simple moving average of $47.26. IAC Inc. has a 52-week low of $39.61 and a 52-week high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IAC. UBS Group reduced their price objective on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. KeyCorp lifted their price target on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. JMP Securities reduced their price objective on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Piper Sandler downgraded shares of IAC from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Benchmark reduced their price target on shares of IAC from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.31.

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.