Davis Selected Advisers Sells 87,531 Shares of IAC Inc. (NASDAQ:IAC)

Davis Selected Advisers decreased its position in IAC Inc. (NASDAQ:IAC – Get Rating) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,837,370 shares of the company’s stock after selling 87,531 shares during the period. Davis Selected Advisers’ holdings in IAC were worth $81,579,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Lindbrook Capital LLC lifted its stake in IAC by 92.8% in the 4th quarter. Lindbrook Capital LLC now owns 698 shares of the company’s stock valued at $31,000 after buying an additional 336 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in IAC in the 4th quarter valued at approximately $36,000. Toronto Dominion Bank lifted its position in shares of IAC by 103.8% during the 3rd quarter. Toronto Dominion Bank now owns 807 shares of the company’s stock worth $45,000 after purchasing an additional 411 shares during the last quarter. Maj Invest Holding A S lifted its position in shares of IAC by 180.0% during the 4th quarter. Maj Invest Holding A S now owns 1,400 shares of the company’s stock worth $62,000 after purchasing an additional 900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in IAC in the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

IAC has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of IAC from $70.00 to $80.00 in a research note on Thursday, May 18th. The Goldman Sachs Group dropped their price target on shares of IAC from $83.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, February 15th. Credit Suisse Group raised their price target on shares of IAC from $108.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. Piper Sandler increased their price objective on shares of IAC from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Finally, Truist Financial lifted their price objective on shares of IAC from $85.00 to $88.00 in a research report on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.13.

IAC Stock Performance

IAC stock traded up $0.08 during mid-day trading on Friday, hitting $55.75. 188,028 shares of the company were exchanged, compared to its average volume of 806,051. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.38 and a current ratio of 2.38. IAC Inc. has a 1-year low of $41.52 and a 1-year high of $90.68. The firm’s 50 day simple moving average is $52.47 and its 200 day simple moving average is $50.91.

IAC (NASDAQ:IAC – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($2.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($1.04). IAC had a negative return on equity of 5.97% and a negative net margin of 10.34%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities analysts forecast that IAC Inc. will post -2.84 EPS for the current year.

IAC Profile

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IAC is a media and Internet company comprised of some of the world’s most recognized brands and products, such as HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid and Tinder. Ranked by Fortune magazine’s annual standing of the world’s most admired companies in the Internet Services & Retailing sector for many years, IAC’s family of websites is one of the largest in the world, with over two billion monthly visits reaching users in more than 190 countries.