IAC Inc. (NASDAQ:IAC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 691,954 shares of the company's stock after selling 35,051 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.86% of IAC worth $36,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of IAC. Nomura Asset Management Co. Ltd. lifted its holdings in shares of IAC by 204.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 730 shares of the company's stock worth $38,000 after acquiring an additional 490 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of IAC by 71.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,149 shares of the company's stock worth $72,000 after acquiring an additional 480 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of IAC in the 1st quarter worth about $72,000. Spire Wealth Management lifted its holdings in shares of IAC by 23.1% in the 3rd quarter. Spire Wealth Management now owns 1,612 shares of the company's stock worth $81,000 after acquiring an additional 303 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of IAC by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,144 shares of the company's stock worth $108,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

IAC Stock Down 2.8 %

Shares of NASDAQ:IAC traded down $1.38 during trading hours on Friday, hitting $48.19. The company's stock had a trading volume of 740,471 shares, compared to its average volume of 519,138. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $69.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 19.43 and a beta of 1.32. The firm's fifty day moving average price is $53.12 and its 200 day moving average price is $50.33.

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

Analysts Set New Price Targets

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

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.