Allspring Global Investments Holdings LLC Has $23.15 Million Stake in IAC Inc. $IAC

Allspring Global Investments Holdings LLC lessened its stake in shares of IAC Inc. (NASDAQ:IAC) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 592,879 shares of the company’s stock after selling 37,089 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.83% of IAC worth $23,146,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC acquired a new stake in shares of IAC in the 4th quarter valued at approximately $318,000. SG Americas Securities LLC boosted its position in IAC by 224.8% during the fourth quarter. SG Americas Securities LLC now owns 22,304 shares of the company’s stock valued at $872,000 after acquiring an additional 15,437 shares during the last quarter. Elevation Wealth Partners LLC acquired a new stake in IAC during the 4th quarter worth about $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in IAC during the 4th quarter worth about $414,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of IAC in the 3rd quarter worth about $6,050,000. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group restated a “neutral” rating and issued a $42.00 price target on shares of IAC in a report on Friday, February 6th. Zacks Research upgraded shares of IAC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 11th. Benchmark reaffirmed a “buy” rating on shares of IAC in a research note on Tuesday, March 3rd. Wall Street Zen upgraded IAC from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IAC in a research report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.62.

IAC Price Performance

Shares of NASDAQ:IAC opened at $39.80 on Friday. The firm has a market capitalization of $2.83 billion, a P/E ratio of -29.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a 50 day moving average price of $37.50 and a 200-day moving average price of $36.47. IAC Inc. has a 52-week low of $29.56 and a 52-week high of $41.86.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The firm had revenue of $645.98 million during the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.IAC’s revenue for the quarter was down 34.7% compared to the same quarter last year. During the same quarter last year, the company posted ($2.39) EPS. As a group, equities research analysts anticipate that IAC Inc. will post 0.43 EPS for the current fiscal year.

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.