Heritage Investors Management Corp Has $926,000 Position in IAC Inc. $IAC

Heritage Investors Management Corp lessened its position in shares of IAC Inc. (NASDAQ:IAC) by 56.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,685 shares of the company’s stock after selling 30,318 shares during the quarter. Heritage Investors Management Corp’s holdings in IAC were worth $926,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of IAC. Goldman Sachs Group Inc. grew its position in shares of IAC by 38.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after buying an additional 115,652 shares during the period. United Services Automobile Association bought a new position in shares of IAC in the 1st quarter worth $207,000. Empowered Funds LLC lifted its holdings in shares of IAC by 9.8% in the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after purchasing an additional 718 shares in the last quarter. Focus Partners Wealth bought a new position in shares of IAC in the 1st quarter worth $270,000. Finally, Creative Planning lifted its holdings in shares of IAC by 8.8% in the 2nd quarter. Creative Planning now owns 11,619 shares of the company’s stock worth $434,000 after purchasing an additional 944 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Trading Up 2.1%

Shares of IAC opened at $42.03 on Friday. The business has a 50-day moving average of $41.09 and a 200 day moving average of $38.40. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $45.82. The firm has a market cap of $2.88 billion, a P/E ratio of 113.60 and a beta of 1.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.69 and a current ratio of 3.69.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on IAC from $41.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group cut IAC from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a report on Wednesday, May 6th. UBS Group increased their target price on IAC from $42.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Needham & Company LLC set a $57.00 target price on IAC in a report on Tuesday, March 3rd. Finally, TD Cowen increased their target price on IAC from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.14.

IAC Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.