TimesSquare Capital Management LLC Trims Stock Holdings in IAC Inc. (NASDAQ:IAC)

TimesSquare Capital Management LLC lowered its stake in IAC Inc. (NASDAQ:IAC) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,208,509 shares of the company’s stock after selling 6,595 shares during the quarter. TimesSquare Capital Management LLC’s holdings in IAC were worth $65,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IAC. Geneos Wealth Management Inc. bought a new position in IAC in the 1st quarter worth $80,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of IAC during the first quarter worth about $221,000. Oppenheimer Asset Management Inc. raised its stake in IAC by 6.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,853 shares of the company’s stock valued at $1,326,000 after purchasing an additional 1,546 shares during the period. Headlands Technologies LLC lifted its holdings in IAC by 106.2% in the 1st quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock worth $187,000 after purchasing an additional 1,803 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in IAC by 28.4% in the 1st quarter. QRG Capital Management Inc. now owns 25,166 shares of the company’s stock worth $1,342,000 after purchasing an additional 5,571 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Price Performance

Shares of IAC stock opened at $53.46 on Friday. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -24.08 and a beta of 1.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a 50 day moving average price of $52.24 and a 200-day moving average price of $50.86. IAC Inc. has a one year low of $43.51 and a one year high of $58.29.

Wall Street Analyst Weigh In

Several research firms have recently commented on IAC. UBS Group raised shares of IAC to a “hold” rating in a report on Monday, October 28th. Citigroup decreased their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial raised their price objective on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Finally, KeyCorp cut their price target on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.89.

IAC 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.