Wellington Management Group LLP Decreases Stock Position in IAC Inc. (NASDAQ:IAC)

Wellington Management Group LLP cut its holdings in IAC Inc. (NASDAQ:IACFree Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,765 shares of the company’s stock after selling 1,368 shares during the period. Wellington Management Group LLP’s holdings in IAC were worth $2,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in IAC by 204.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company’s stock valued at $38,000 after purchasing an additional 490 shares during the last quarter. Lazard Asset Management LLC raised its stake in IAC by 71.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,149 shares of the company’s stock valued at $72,000 after purchasing an additional 480 shares during the last quarter. Acadian Asset Management LLC acquired a new position in IAC in the 1st quarter valued at about $72,000. Spire Wealth Management raised its stake in IAC by 23.1% in the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after purchasing an additional 303 shares during the last quarter. Finally, Covestor Ltd raised its stake in IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after purchasing an additional 286 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IAC. Barclays boosted their target price on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Truist Financial upped their price objective on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. UBS Group upped their price objective on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, KeyCorp upped their price objective on shares of IAC from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.69.

Read Our Latest Report on IAC

IAC Stock Up 0.6 %

IAC opened at $52.83 on Thursday. The firm has a 50 day moving average price of $52.86 and a 200 day moving average price of $50.34. The company has a market cap of $4.23 billion, a PE ratio of 21.30 and a beta of 1.34. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36.

IAC (NASDAQ:IACGet Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.53). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. Sell-side analysts expect that IAC Inc. will post -1.99 earnings per share for the current year.

About IAC

(Free Report)

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.

See Also

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Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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