Wells Fargo & Company MN Decreases Stock Position in IAC Inc. (NASDAQ:IAC)

Wells Fargo & Company MN decreased its position in IAC Inc. (NASDAQ:IAC - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,995 shares of the company's stock after selling 7,095 shares during the period. Wells Fargo & Company MN's holdings in IAC were worth $1,337,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its position in shares of IAC by 922.5% in the third quarter. Barclays PLC now owns 60,737 shares of the company's stock valued at $3,268,000 after purchasing an additional 54,797 shares during the period. Franklin Resources Inc. increased its stake in IAC by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock worth $577,000 after buying an additional 686 shares in the last quarter. Fortis Advisors LLC raised its holdings in shares of IAC by 23.3% during the fourth quarter. Fortis Advisors LLC now owns 9,650 shares of the company's stock valued at $416,000 after acquiring an additional 1,825 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of IAC by 452.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 102,883 shares of the company's stock worth $4,438,000 after acquiring an additional 84,259 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new position in IAC in the 4th quarter valued at $7,794,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Trading Down 0.7 %

IAC stock traded down $0.24 during midday trading on Friday, reaching $35.20. 326,408 shares of the stock traded hands, compared to its average volume of 1,055,872. The firm has a market cap of $2.73 billion, a PE ratio of -5.40 and a beta of 1.24. 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 50-day simple moving average of $40.53 and a two-hundred day simple moving average of $44.19. IAC Inc. has a 12-month low of $32.04 and a 12-month high of $58.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IAC shares. Truist Financial reduced their target price on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Barclays lowered their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. UBS Group reduced their price objective on IAC from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. KeyCorp upped their target price on IAC from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Oppenheimer reduced their price target on IAC from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.15.

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.