Brandywine Global Investment Management LLC Cuts Stock Position in IAC Inc. (NASDAQ:IAC)

Brandywine Global Investment Management LLC decreased its position in IAC Inc. (NASDAQ:IAC) by 3.4% during the 4th quarter, Holdings Channel reports. The fund owned 247,850 shares of the company’s stock after selling 8,787 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in IAC were worth $10,692,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after acquiring an additional 320 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of IAC by 1.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 38,348 shares of the company’s stock valued at $1,654,000 after acquiring an additional 531 shares during the period. KBC Group NV raised its holdings in IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of IAC by 0.7% in the fourth quarter. Sanctuary Advisors LLC now owns 98,966 shares of the company’s stock valued at $4,188,000 after purchasing an additional 659 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock valued at $577,000 after acquiring an additional 686 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Stock Performance

Shares of IAC opened at $45.94 on Tuesday. The company has a 50-day moving average of $44.97 and a two-hundred day moving average of $47.20. IAC Inc. has a one year low of $39.61 and a one year 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. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of -7.05 and a beta of 1.29.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial lowered their price target on IAC from $80.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, February 13th. UBS Group decreased their target price on IAC from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Citigroup lifted their price target on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Benchmark cut their target price on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, KeyCorp boosted their price target on IAC from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, IAC 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.