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

Cove Street Capital LLC increased its holdings in shares of IAC Inc. (NASDAQ:IACFree Report) by 58.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 492,072 shares of the company’s stock after acquiring an additional 182,049 shares during the quarter. IAC comprises 8.0% of Cove Street Capital LLC’s portfolio, making the stock its biggest holding. Cove Street Capital LLC owned 0.61% of IAC worth $23,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAC. Nomura Asset Management Co. Ltd. increased its stake in shares of IAC by 204.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company’s stock valued at $38,000 after buying an additional 490 shares during the period. National Bank of Canada FI raised its stake in shares of IAC by 58.8% in the second quarter. National Bank of Canada FI now owns 1,131 shares of the company’s stock valued at $71,000 after buying an additional 419 shares during the period. Lazard Asset Management LLC raised its stake in shares of IAC by 71.7% during the 2nd quarter. Lazard Asset Management LLC now owns 1,149 shares of the company’s stock valued at $72,000 after purchasing an additional 480 shares during the period. Spire Wealth Management increased its stake in IAC by 52.4% in the 2nd quarter. Spire Wealth Management now owns 1,309 shares of the company’s stock worth $82,000 after acquiring an additional 450 shares during the last quarter. Finally, CWM LLC increased its stake in IAC by 58.9% in the 2nd quarter. CWM LLC now owns 1,346 shares of the company’s stock worth $85,000 after acquiring an additional 499 shares during the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IAC. Piper Sandler decreased their target price on IAC from $74.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. Benchmark cut their price objective on shares of IAC from $115.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, November 9th. KeyCorp lowered their target price on IAC from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, November 27th. Truist Financial lowered their price target on IAC from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Finally, UBS Group reduced their target price on IAC from $66.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 17th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Check Out Our Latest Stock Report on IAC

IAC Price Performance

Shares of NASDAQ IAC traded up $0.04 during trading on Monday, reaching $52.98. The company had a trading volume of 663,099 shares, compared to its average volume of 513,620. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $69.85. The stock has a market capitalization of $4.24 billion, a PE ratio of -42.69 and a beta of 1.31. The stock has a 50-day moving average price of $51.17 and a two-hundred day moving average price of $51.45. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.31.

About IAC

(Free Report)

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.

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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