Parkside Investments LLC Sells 172,616 Shares of IAC Inc. $IAC

Parkside Investments LLC reduced its position in IAC Inc. (NASDAQ:IAC) by 83.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,381 shares of the company’s stock after selling 172,616 shares during the quarter. Parkside Investments LLC’s holdings in IAC were worth $1,305,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of IAC in the 3rd quarter valued at $6,050,000. UBS Group AG boosted its stake in IAC by 11.4% during the fourth quarter. UBS Group AG now owns 781,195 shares of the company’s stock worth $30,545,000 after acquiring an additional 79,755 shares in the last quarter. AlphaQuest LLC boosted its stake in IAC by 1,127.5% during the third quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock worth $1,406,000 after acquiring an additional 37,896 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in IAC by 8.7% during the third quarter. Public Sector Pension Investment Board now owns 504,604 shares of the company’s stock worth $17,192,000 after acquiring an additional 40,468 shares in the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in IAC by 68.9% during the third quarter. Highbridge Capital Management LLC now owns 484,325 shares of the company’s stock worth $16,501,000 after acquiring an additional 197,590 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

IAC Stock Performance

IAC opened at $42.03 on Tuesday. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average price is $41.19 and its two-hundred day moving average price is $38.51. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $45.82. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 113.60 and a beta of 1.03.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAC. Benchmark increased their target price on shares of IAC from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Needham & Company LLC set a $57.00 target price on shares of IAC in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of IAC from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of IAC from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Finally, Citigroup increased their target price on shares of IAC from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $53.14.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.