Helikon Investments Ltd Acquires 540,643 Shares of IAC Inc. $IAC

Helikon Investments Ltd lifted its holdings in IAC Inc. (NASDAQ:IAC) by 40.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,866,442 shares of the company’s stock after purchasing an additional 540,643 shares during the period. IAC accounts for 3.9% of Helikon Investments Ltd’s portfolio, making the stock its 7th biggest position. Helikon Investments Ltd’s holdings in IAC were worth $72,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Tudor Investment Corp ET AL acquired a new position in shares of IAC during the 3rd quarter worth about $6,050,000. AlphaQuest LLC lifted its stake in IAC by 1,127.5% in the 3rd quarter. AlphaQuest LLC now owns 41,257 shares of the company’s stock valued at $1,406,000 after purchasing an additional 37,896 shares during the last quarter. Public Sector Pension Investment Board grew its holdings 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 purchasing an additional 40,468 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in IAC during the third quarter worth about $875,000. Finally, Highbridge Capital Management LLC increased its position 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 buying an additional 197,590 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $39.88 on Friday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 107.79 and a beta of 1.03. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12 month low of $29.56 and a 12 month high of $45.82. The stock’s 50 day moving average is $40.78 and its 200-day moving average is $38.10.

Analyst Ratings Changes

A number of analysts have recently issued reports on IAC shares. TD Cowen raised their price objective on IAC from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Citigroup boosted their target price on IAC from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Benchmark increased their price target on IAC from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of IAC from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Barclays upped their price objective on shares of IAC from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.