Wellington Management Group LLP Makes New Investment in IAC Inc. (NASDAQ:IAC)

Wellington Management Group LLP acquired a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,182 shares of the company's stock, valued at approximately $439,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of IAC during the 4th quarter worth approximately $38,817,000. Joel Isaacson & Co. LLC boosted its position in IAC by 553.6% during the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company's stock worth $18,302,000 after purchasing an additional 359,327 shares in the last quarter. Highbridge Capital Management LLC grew its holdings in IAC by 223.5% in the fourth quarter. Highbridge Capital Management LLC now owns 351,681 shares of the company's stock valued at $15,172,000 after purchasing an additional 242,982 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of IAC by 4,238.5% in the fourth quarter. Proficio Capital Partners LLC now owns 229,419 shares of the company's stock valued at $9,897,000 after buying an additional 224,131 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of IAC during the 4th quarter worth $8,015,000. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Performance

IAC stock traded up $0.27 during midday trading on Friday, reaching $33.02. 826,162 shares of the stock traded hands, compared to its average volume of 834,341. The firm has a fifty day moving average price of $42.62 and a two-hundred day moving average price of $45.22. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -5.06 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. IAC Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $58.29.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. UBS Group dropped their target price on shares of IAC from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Barclays reduced their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Truist Financial reduced their price objective on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $60.00 price objective on shares of IAC in a research report on Friday, March 21st. Finally, JMP Securities lowered their price target on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.31.

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.