Knowledge Leaders Capital LLC Sells 576 Shares of IAC Inc. (NASDAQ:IAC)

Knowledge Leaders Capital LLC cut its stake in IAC Inc. (NASDAQ:IAC) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,430 shares of the company’s stock after selling 576 shares during the period. Knowledge Leaders Capital LLC’s holdings in IAC were worth $337,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IAC. DAVENPORT & Co LLC lifted its stake in IAC by 0.6% in the fourth quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company’s stock valued at $2,325,000 after buying an additional 271 shares during the period. Covestor Ltd lifted its stake in IAC by 15.4% in the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after buying an additional 286 shares during the period. Spire Wealth Management lifted its stake in IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares during the period. Gamco Investors INC. ET AL lifted its stake in IAC by 1.6% in the third quarter. Gamco Investors INC. ET AL now owns 22,802 shares of the company’s stock valued at $1,149,000 after buying an additional 350 shares during the period. Finally, Pathstone Family Office LLC lifted its stake in IAC by 11.3% in the third quarter. Pathstone Family Office LLC now owns 4,719 shares of the company’s stock valued at $238,000 after buying an additional 478 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IAC shares. Barclays upped their target price on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. UBS Group upped their target price on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial upped their target price on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Finally, KeyCorp upped their target price on IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.69.

IAC Stock Performance

NASDAQ:IAC traded up $0.52 during trading on Friday, reaching $48.62. The company’s stock had a trading volume of 555,740 shares, compared to its average volume of 509,294. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 19.60 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a 50 day moving average of $52.13 and a 200-day moving average of $50.24. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. Research analysts expect that IAC Inc. will post -2.02 EPS for the current fiscal year.

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.