Freshford Capital Management LLC Sells 794,296 Shares of IAC Inc. (NASDAQ:IAC)

Freshford Capital Management LLC cut its position in IAC Inc. (NASDAQ:IAC) by 69.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,715 shares of the company’s stock after selling 794,296 shares during the quarter. IAC makes up 4.2% of Freshford Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Freshford Capital Management LLC owned about 0.43% of IAC worth $14,785,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its stake in IAC by 20.5% in the third quarter. MML Investors Services LLC now owns 5,725 shares of the company’s stock valued at $308,000 after purchasing an additional 973 shares during the period. Barclays PLC grew its holdings in shares of IAC by 922.5% during the third quarter. Barclays PLC now owns 60,737 shares of the company’s stock worth $3,268,000 after buying an additional 54,797 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company’s stock worth $577,000 after buying an additional 686 shares during the last quarter. Fortis Advisors LLC increased its position in IAC by 23.3% in the 4th quarter. Fortis Advisors LLC now owns 9,650 shares of the company’s stock valued at $416,000 after acquiring an additional 1,825 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in IAC by 452.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company’s stock valued at $4,438,000 after acquiring an additional 84,259 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IAC. UBS Group dropped their target price on IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Benchmark dropped their price objective on shares of IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Oppenheimer reduced their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their target price on shares of IAC from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, JMP Securities cut their price target on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.15.

IAC Stock Performance

Shares of IAC stock opened at $33.55 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The stock has a market cap of $2.60 billion, a PE ratio of -5.15 and a beta of 1.24. IAC Inc. has a 1 year low of $32.05 and a 1 year high of $58.29. The stock has a fifty day moving average price of $42.12 and a 200 day moving average price of $44.96.

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.