Wellington Management Group LLP Sells 1,368 Shares of IAC Inc. (NASDAQ:IAC)

Wellington Management Group LLP decreased its stake in shares of IAC Inc. (NASDAQ:IAC) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,765 shares of the company’s stock after selling 1,368 shares during the period. Wellington Management Group LLP owned about 0.05% of IAC worth $2,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAC. Captrust Financial Advisors increased its holdings in IAC by 3.1% during the first quarter. Captrust Financial Advisors now owns 8,062 shares of the company’s stock valued at $808,000 after buying an additional 246 shares during the last quarter. Principal Financial Group Inc. increased its holdings in IAC by 3.7% during the first quarter. Principal Financial Group Inc. now owns 7,718 shares of the company’s stock valued at $398,000 after buying an additional 277 shares during the last quarter. Covestor Ltd increased its holdings in IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock valued at $108,000 after buying an additional 286 shares during the last quarter. Spire Wealth Management increased its holdings in IAC by 23.1% during the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock valued at $81,000 after buying an additional 303 shares during the last quarter. Finally, Marco Investment Management LLC increased its holdings in IAC by 1.5% during the second quarter. Marco Investment Management LLC now owns 21,067 shares of the company’s stock valued at $1,323,000 after buying an additional 321 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Stock Performance

IAC opened at $52.83 on Thursday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 21.30 and a beta of 1.34. The company has a fifty day moving average of $52.86 and a 200 day moving average of $50.34. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week 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:IAC) last posted its earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. As a group, sell-side analysts forecast that IAC Inc. will post -1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on IAC. Barclays upped their target price on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. UBS Group increased their price objective on shares of IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. KeyCorp increased their price objective on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, Truist Financial increased their price objective on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.69.

IAC Profile

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.