WCM Investment Management LLC Sells 6,008 Shares of IAC Inc. (NASDAQ:IAC)

WCM Investment Management LLC lessened its holdings in shares of IAC Inc. (NASDAQ:IAC) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,548 shares of the company’s stock after selling 6,008 shares during the quarter. WCM Investment Management LLC owned 0.46% of IAC worth $15,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IAC. The Manufacturers Life Insurance Company grew its holdings in shares of IAC by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 18,561 shares of the company’s stock valued at $870,000 after acquiring an additional 553 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of IAC during the second quarter worth $702,000. SG Americas Securities LLC boosted its stake in IAC by 20.4% in the 3rd quarter. SG Americas Securities LLC now owns 8,022 shares of the company’s stock worth $432,000 after purchasing an additional 1,358 shares during the period. Handelsbanken Fonder AB grew its stake in IAC by 15.8% during the third quarter. Handelsbanken Fonder AB now owns 16,900 shares of the company’s stock valued at $910,000 after acquiring an additional 2,300 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of IAC by 98.8% in the third quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after purchasing an additional 492 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IAC. Citigroup raised their target price on shares of IAC from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 31st. UBS Group upgraded IAC to a “hold” rating in a report on Monday, October 28th. Truist Financial decreased their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Finally, KeyCorp cut their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.67.

IAC Trading Down 1.7 %

Shares of NASDAQ IAC opened at $41.60 on Monday. The company has a market cap of $3.35 billion, a PE ratio of -96.74 and a beta of 1.32. IAC Inc. has a 52-week low of $39.61 and a 52-week high of $58.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The firm’s 50 day moving average price is $43.47 and its 200-day moving average price is $48.40.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) EPS. On average, equities research analysts expect that IAC Inc. will post -3.97 EPS 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.