Allspring Global Investments Holdings LLC reduced its holdings in IAC Inc. (NASDAQ:IAC – free report ) by 26.2% during the first quarter, according to its latest Form 13F filing with the SEC. The fund sold 180,948 shares during the period, giving it a holding of 511,006 shares of the company. Allspring Global Investments Holdings LLC holds about 0.64% of IAC, valued at $27,257,000, according to its latest filing with the SEC.
Other large investors also modified their holdings in the company. Riverview Trust Co acquired a new stake in IAC in the first quarter valued at approximately $27,000. NJ State Employees Deferred Compensation Plan acquired a new stake in IAC in the fourth quarter valued at approximately $203,000. Brown Advisory Inc. acquired a new stake in IAC in the fourth quarter valued at approximately $209,000. Capstone Investment Advisors LLC acquired a new stake in IAC in the fourth quarter valued at approximately $209,000. Finally, Hsbc Holdings PLC acquired a new stake in IAC in the third quarter valued at approximately $214,000. Institutional investors hold 88.90% of the company’s shares.
Analysts Set New Price Targets
Several equities research analysts have commented on IAC shares. Wells Fargo Company increased their price target on IAC shares from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Citigroup lowered their price target on IAC shares from $72.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. StockNews.com lowered IAC shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Truist Financial raised their price target on IAC shares from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Oppenheimer increased their price target on shares of IAC from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, May 9. Two equities research analysts have rated the stock with a hold rating, and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of a “moderate buy” with a consensus target price of $79.92.
View IAC’s latest stock report
IAC trading down 0.1%
NASDAQ:IAC shares opened trading at $46.41 on Friday. The company’s 50-day moving average is $50.09 and its 200-day moving average is $51.36. The company has a market cap of $3.73 billion, a P/E ratio of -29.37 and a beta of 1.32. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $69.85. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.29.
IAC (NASDAQ:IAC – Get free report ) announced its latest earnings results on Tuesday, May 7th. The company reported quarterly earnings per share (EPS) of ($0.93), beating analysts’ consensus estimates of ($1.14) by $0.21. The company had revenues of $929.68 million for the quarter, compared to analysts’ estimates of $937.68 million. IAC had net margins of -2.54% and return on equity of -3.31%. On average, equities analysts expect IAC Inc. to post an EPS of 0.09 for the current fiscal year.
IAC Profile
(Free report)
IAC Inc., together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and compelling digital content, including editorial, illustration, video and imagery across entertainment, food, home, beauty, travel, health, family, luxury and fashion categories, as well as women’s and lifestyle magazines.
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