Wellington Management Group LLP Sells 557 Shares of IAC Inc. $IAC

Wellington Management Group LLP reduced its holdings in IAC Inc. (NASDAQ:IAC) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,625 shares of the company’s stock after selling 557 shares during the quarter. Wellington Management Group LLP’s holdings in IAC were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IAC. TD Private Client Wealth LLC increased its holdings in IAC by 282.2% in the first quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of IAC by 1,422.0% during the first quarter. Parallel Advisors LLC now owns 624 shares of the company’s stock valued at $29,000 after acquiring an additional 583 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of IAC by 426.1% during the first quarter. Fifth Third Bancorp now owns 626 shares of the company’s stock valued at $29,000 after acquiring an additional 507 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of IAC by 118.6% during the first quarter. Versant Capital Management Inc now owns 680 shares of the company’s stock valued at $31,000 after acquiring an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock valued at $35,000 after acquiring an additional 520 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Trading Down 0.2%

Shares of IAC stock opened at $36.62 on Tuesday. The stock has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $38.87. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $55.40. The company has a market capitalization of $2.72 billion, a P/E ratio of -6.79 and a beta of 1.26. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The business had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same quarter in the prior year, the company posted ($1.71) earnings per share. IAC’s revenue was down 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on IAC from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JMP Securities decreased their price objective on IAC from $64.00 to $47.00 and set a “market outperform” rating for the company in a report on Tuesday, June 10th. KeyCorp decreased their price objective on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Finally, Oppenheimer decreased their price objective on IAC from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

About IAC

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.