Davis Selected Advisers Reduces Stock Holdings in IAC Inc. (NASDAQ:IAC)

Davis Selected Advisers reduced its stake in IAC Inc. (NASDAQ:IAC) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,635,624 shares of the company’s stock after selling 66,518 shares during the period. Davis Selected Advisers owned 3.27% of IAC worth $113,701,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in IAC by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,847,499 shares of the company’s stock valued at $153,252,000 after purchasing an additional 66,347 shares during the last quarter. State Street Corp grew its position in shares of IAC by 1.2% during the third quarter. State Street Corp now owns 2,360,210 shares of the company’s stock worth $127,027,000 after acquiring an additional 28,577 shares during the last quarter. Geode Capital Management LLC grew its position in shares of IAC by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,217,480 shares of the company’s stock worth $65,541,000 after acquiring an additional 25,909 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IAC by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,260 shares of the company’s stock worth $41,728,000 after acquiring an additional 19,148 shares during the last quarter. Finally, Joel Isaacson & Co. LLC grew its position in shares of IAC by 553.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after acquiring an additional 359,327 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Price Performance

Shares of NASDAQ IAC opened at $44.09 on Friday. The firm has a market capitalization of $3.55 billion, a P/E ratio of -6.76 and a beta of 1.32. IAC Inc. has a one year low of $39.61 and a one year high of $58.29. The company’s fifty day moving average is $43.58 and its two-hundred day moving average is $47.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80.

Analyst Upgrades and Downgrades

IAC has been the topic of a number of research reports. JMP Securities lowered their target price on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Oppenheimer lowered their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial decreased 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. Barclays lowered their price objective on shares of IAC from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen lowered their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.67.

IAC Company Profile

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.