WCM Investment Management LLC Purchases 25,704 Shares of IAC Inc. (NASDAQ:IAC)

WCM Investment Management LLC increased its holdings in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,871 shares of the company's stock after purchasing an additional 25,704 shares during the period. WCM Investment Management LLC owned 0.37% of IAC worth $15,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in IAC by 3.1% in the 1st 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. DAVENPORT & Co LLC boosted its position in IAC by 0.6% in the 4th quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company's stock valued at $2,325,000 after buying an additional 271 shares during the last quarter. Principal Financial Group Inc. boosted its position in IAC by 3.7% in the 1st 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 boosted its position in IAC by 15.4% in the 3rd 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. Finally, Spire Wealth Management boosted its position in IAC by 23.1% in the 3rd 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. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

IAC Stock Performance

IAC traded down $1.38 on Friday, hitting $48.19. 740,471 shares of the company's stock were exchanged, compared to its average volume of 519,138. The stock has a fifty day moving average of $53.12 and a two-hundred day moving average of $50.33. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $69.85. The firm has a market cap of $3.86 billion, a PE ratio of 19.43 and a beta of 1.32. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC - Get Free Report) last announced 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, research analysts anticipate that IAC Inc. will post -1.99 earnings per share for the current fiscal year.

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.