New Age Alpha Advisors LLC Makes New $289,000 Investment in IAC Inc. (NASDAQ:IAC)

New Age Alpha Advisors LLC purchased a new stake in shares of IAC Inc. (NASDAQ:IAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,693 shares of the company’s stock, valued at approximately $289,000.

Other large investors have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in IAC during the 4th quarter worth about $41,000. Quarry LP boosted its stake in shares of IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock valued at $53,000 after purchasing an additional 785 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in IAC by 1,398.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after buying an additional 1,916 shares during the period. Allworth Financial LP raised its stake in IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after buying an additional 3,079 shares in the last quarter. Finally, KBC Group NV lifted 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 buying an additional 608 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

IAC has been the topic of a number of analyst reports. Oppenheimer cut their price target on IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. UBS Group cut their target price on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Piper Sandler lowered shares of IAC from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $54.00 in a research report on Tuesday, December 10th. Benchmark cut their price objective on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Citigroup increased their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.31.

IAC Price Performance

NASDAQ IAC opened at $39.26 on Wednesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -6.02 and a beta of 1.29. 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’s fifty day moving average price is $44.91 and its 200 day moving average price is $47.11. IAC Inc. has a 1 year low of $37.76 and a 1 year high of $58.29.

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.