Vise Technologies Invests in IAC Inc. as Institutional Interest Grows

Vise Technologies Inc. has acquired a new stake in IAC Inc. (NASDAQ: IAC), purchasing 10,111 shares valued at approximately $378,000. This investment, made during the second quarter of 2023, highlights a growing interest from institutional investors in the media and internet company.

Several other hedge funds have also adjusted their holdings in IAC recently. For instance, Envestnet Asset Management Inc. increased its stake by 9.2% in the first quarter, now owning 76,451 shares valued at $3,512,000 after acquiring an additional 6,459 shares. Meanwhile, Cerity Partners LLC entered the picture with a new investment estimated at $2,042,000.

Moreover, the Arizona State Retirement System raised its holdings by 4.6%, resulting in ownership of 21,930 shares valued at $1,007,000. CWM LLC made a significant increase of 137.2% in its holdings, now owning 31,462 shares worth $1,445,000. Finally, Victory Capital Management Inc. lifted its position by 119.5%, owning 77,996 shares valued at $3,583,000. Collectively, hedge funds and institutional investors now control 88.90% of IAC’s stock.

IAC Stock Performance and Analyst Ratings

As of Friday, IAC shares traded at $33.22, reflecting a 1.9% decrease. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -12.17, and a beta of 1.25. Over the past year, IAC has experienced a low of $29.56 and a high of $50.49. Its debt-to-equity ratio stands at 0.29, with a current ratio and quick ratio both at 2.56. The firm’s 50-day moving average is $34.15, while the two-hundred day moving average is $36.21.

Recent research reports have provided varying insights into IAC’s stock outlook. KeyCorp reduced its target price for IAC from $45.00 to $41.00, maintaining an “overweight” rating as of November 3, 2023. Barclays similarly lowered its price objective from $52.00 to $48.00 while retaining an “overweight” rating. Piper Sandler adjusted its target from $44.00 to $39.00, issuing a “neutral” rating.

On August 9, Wall Street Zen upgraded IAC from a “sell” to a “hold” rating, while Weiss Ratings reiterated a “sell (d-)” rating on October 8. Currently, ten analysts have issued a Buy rating, two have given a Hold rating, and one has assigned a Sell rating. According to data from MarketBeat, the average rating for IAC stands at “Moderate Buy,” with an average price target of $46.73.

About IAC Inc.

IAC Inc. operates as a media and internet company globally, encompassing a wide range of digital content. The company publishes original articles, illustrations, videos, and images across various categories, including entertainment, food, health, and lifestyle. This diverse portfolio positions IAC as a significant player in the digital content landscape.

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