In the world of finance, tracking the holdings and investments of institutional investors can often provide valuable insights into the performance and trajectory of a particular company. HighTower Advisors LLC, a prominent institutional investor, recently filed their Form 13F with the Securities and Exchange Commission, revealing that they had decreased their holdings in IAC Inc. by 5.4% during the fourth quarter.
According to the filing, HighTower Advisors LLC owned 35,727 shares of IAC’s stock at the end of 2021’s final quarter- a decrease from the previous number after selling off a total of 2,028 shares. As an institutional investor managing billions of dollars in assets under management (AUM) across a diverse range of clients and portfolios, this is not an insignificant move.
At present, HighTower Advisors LLC’s holdings in IAC are estimated to be worth $1,561,000. This marks a significant reduction since 13F filings submitted for previous quarters indicated that they held significantly more shares in IAC Inc. Nonetheless, it’s important to note that this filing represents merely one institution’s position and cannot be considered an accurate representation of all hedge funds holding stock in NASDAQ IAC.
Interestingly enough, despite HighTower Advisors’ divestment from IAC stock during Q4 2021, shares opened on Friday at $55.67 each showing minimal decline after news was announced within financial circles concerning upcoming changes to major indices including NASDAQ Composite Index.
IAC Inc has been one of the most closely watched companies on Wall Street over recent years due to its diverse business model and aggressive acquisition strategy which has seen it become a key player in several high-growth industries such as Tinder dating platform’s parent company – Match Group.
The company has experienced strong growth recently but its share price remains volatile due to external factors such as changing market trends or geopolitical tensions which affect industry competitiveness worldwide; hence fluctuations between $41.52 and $90.68 over the past twelve months. Ultimately, informed stakeholders are drawn to access more detailed data through resources like HoldingsChannel.com where they can get a big-picture overview of institutional investors’ holdings, as well as analyze insider trading activity.
As a NASDAQ listed company, IAC Inc’s market cap is calculated at $4.46 billion while its P/E ratio compares unfavorably with earnings per share (EPS). However, the beta of 1.13 reflects that it outperforms the broader market sector average for firms with similar profiles – this bodes well over the long term considering that efficiency is crucial to bottom-line matters hence affecting stakeholders’ decision-making processes.
Moving forward it will be interesting to see how IAC Inc will evolve given its industry diversification and steady revenue streams amid global economic uncertainty due to health-related restrictions making this former search engine empire one worth watching closely in coming years!
IAC Attracts Interest from Large Investors Amid Positive Analyst Reports
IAC, a media and internet company known for its portfolio of recognizable brands and products, has recently seen interest from large investors. Raymond James Financial Services Advisors Inc. increased its ownership of IAC by 20.2% during the first quarter, while American Century Companies Inc. raised its holdings in shares by 15.7%. Additionally, Bank of Montreal Can boosted its position in IAC by 161.5%, and MetLife Investment Management LLC purchased a new position in the first quarter.
As of now, 89.08% of the stock is owned by institutional investors and hedge funds. These investments come after several research reports on IAC’s value have been released by companies such as Oppenheimer, Jefferies Financial Group, Barclays, Piper Sandler, and Credit Suisse Group.
While two analysts have assigned a hold rating to IAC’s stock, ten have rated it a buy rating with Bloomberg.com giving it a “Moderate Buy” rating and a consensus target price of $82.13.
Despite missing its earnings per share estimate for the first quarter at $2.06 EPS instead of $1.02 EPS, IAC continues to maintain some of the largest websites in the world with over two billion monthly visits reaching users in more than 190 countries.
For those interested in seeing what other hedge funds are holding IAC or insider trades made within the company, HoldingsChannel.com provides all the latest information on 13F filings and insider trades for IAC Inc (NASDAQ:IAC).
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