WCM Investment Management LLC Raises Stake in IAC Inc. (NASDAQ:IAC)

WCM Investment Management LLC boosted its holdings in IAC Inc. (NASDAQ:IAC - Free Report) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379,556 shares of the company's stock after purchasing an additional 75,918 shares during the quarter. WCM Investment Management LLC owned about 0.47% of IAC worth $20,762,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in IAC by 5,474.2% during the 2nd quarter. Principal Financial Group Inc. now owns 343,429 shares of the company's stock worth $16,090,000 after acquiring an additional 337,268 shares during the last quarter. DME Capital Management LP bought a new stake in shares of IAC during the 2nd quarter worth $13,655,000. Bank of New York Mellon Corp raised its stake in shares of IAC by 113.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company's stock worth $24,891,000 after purchasing an additional 282,304 shares during the period. Swedbank AB bought a new stake in shares of IAC during the 1st quarter worth $11,460,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of IAC during the 2nd quarter worth $7,200,000. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Price Performance

Shares of IAC traded up $1.64 during midday trading on Monday, hitting $55.10. 1,004,144 shares of the company traded hands, compared to its average volume of 657,797. The stock has a 50-day moving average of $52.24 and a 200-day moving average of $50.89. IAC Inc. has a one year low of $43.51 and a one year high of $58.29. The firm has a market cap of $4.43 billion, a P/E ratio of -24.08 and a beta of 1.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 2.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IAC shares. UBS Group upgraded IAC to a "hold" rating in a research note on Monday, October 28th. Truist Financial lifted their target price on IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Benchmark restated a "buy" rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, August 27th. KeyCorp lowered their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Finally, Citigroup lowered their price objective on IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.89.

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.