Wellington Management Group LLP Makes New $439,000 Investment in IAC Inc. (NASDAQ:IAC)

Wellington Management Group LLP acquired a new stake in IAC Inc. (NASDAQ:IAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,182 shares of the company's stock, valued at approximately $439,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd lifted its holdings in IAC by 287.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after purchasing an additional 457 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in IAC in the 4th quarter valued at $41,000. Aquatic Capital Management LLC purchased a new position in IAC in the 4th quarter valued at $135,000. Allworth Financial LP raised its holdings in shares of IAC by 1,193.4% during the 4th quarter. Allworth Financial LP now owns 3,337 shares of the company's stock worth $139,000 after acquiring an additional 3,079 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of IAC during the 4th quarter valued at about $175,000. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Price Performance

Shares of IAC traded up $0.05 during trading hours on Wednesday, reaching $37.10. The company had a trading volume of 1,106,000 shares, compared to its average volume of 813,055. The firm has a 50 day simple moving average of $35.66 and a 200-day simple moving average of $41.39. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -5.69 and a beta of 1.23. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to the consensus estimate of $809.18 million. IAC had a negative net margin of 14.18% and a negative return on equity of 7.98%. The business's revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Research analysts expect that IAC Inc. will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IAC. UBS Group reduced their target price on shares of IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Oppenheimer reduced their target price on shares of IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup reduced their target price on shares of IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of IAC from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of IAC from $60.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $54.08.

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.