IAC Inc. announces trading blackout period for employee plans

In a recent filing with the U.S. Securities and Exchange Commission, IAC Inc. (NASDAQ:IAC), a leader in the tech industry currently valued at $3.91 billion and trading at $46.95, has announced a temporary trading suspension for its employee benefit plans. According to InvestingPro analysis, IAC appears undervalued based on its Fair Value metrics, with strong liquidity indicators showing current assets well exceeding short-term obligations. The blackout period is set to commence at 4:00 PM Eastern Time on Monday and is expected to conclude by 9:30 AM Eastern Time on Thursday.

The trading suspension is a procedural measure linked to the forthcoming spin-off of Angi Inc., a subsidiary of IAC. During this period, participants in the IAC Inc. Retirement Savings Plan will be unable to engage in transactions involving IAC stock funds. This includes investment actions as well as plan loans and withdrawals. The company maintains a healthy financial position with a moderate debt-to-equity ratio of 0.43, as reported by InvestingPro, which offers comprehensive analysis and real-time metrics for over 1,400 US stocks.

The blackout is necessary to facilitate the creation of a new stock fund for Angi Inc., which will hold shares of Angi stock allocated to Plan participant accounts in relation to IAC stock held in the existing IAC stock fund.

IAC has communicated the details of the blackout to its executive officers and directors, in adherence to the Sarbanes-Oxley Act of 2002 and related SEC regulations. The company has filed the blackout notice as part of its regulatory disclosures.

This temporary suspension is a standard procedure in the context of corporate restructuring and spin-off operations. It is designed to ensure compliance with federal regulations and to maintain the integrity of the employee benefit plan during the transition.

Investors and employees of IAC Inc. are advised to take note of the blackout dates for planning purposes. The stock has shown positive momentum with a 7.63% return over the last week, trading between its 52-week range of $39.61 to $58.29. The information provided in this article is based on a press release statement from IAC Inc. For deeper insights into IAC’s financial health and detailed analysis, investors can access the full Pro Research Report available on InvestingPro.

In other recent news, IAC Inc. announced an expansion of its share repurchase program, with the Board of Directors authorizing the purchase of an additional 10 million shares. This decision, disclosed in an SEC filing, aims to return value to shareholders through strategic buybacks. Meanwhile, IAC’s Board has approved the spin-off of its subsidiary Angi Inc., resulting in a special dividend distribution of Angi’s capital stock to IAC shareholders. This move is part of IAC’s strategy to streamline operations and provide direct investment opportunities in Angi.

Additionally, IAC subsidiary Dotdash Meredith (NYSE:MDP) Inc. has updated its financial obligations following a merger, assuming all obligations under a credit agreement with JPMorgan Chase (NYSE:JPM) Bank. This restructuring includes providing comprehensive financial statements for recent years, enhancing transparency. In analyst news, KeyBanc Capital Markets raised its price target for IAC to $64, maintaining an Overweight rating after IAC’s fourth-quarter results exceeded revenue and EBITDA expectations. This positive outlook was supported by strong performance in the Dotdash Meredith segment.

Moreover, Match Group (NASDAQ:MTCH), an IAC subsidiary, announced the promotion of Hesam Hosseini to Chief Operating Officer, effective April 1, as part of a planned leadership transition. Hosseini’s promotion follows Gary Swidler stepping down as President but remaining an advisor until July 2025. These developments reflect IAC’s ongoing strategic initiatives and financial performance, which are being closely monitored by investors and analysts.

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