IAC Inc. (NASDAQ:IAC) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in IAC Inc. (NASDAQ:IAC) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,687 shares of the company’s stock after buying an additional 784 shares during the period. Arizona State Retirement System’s holdings in IAC were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in IAC in the 4th quarter worth approximately $39,426,000. Teachers Retirement System of The State of Kentucky lifted its position in IAC by 12.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 219,224 shares of the company’s stock worth $11,483,000 after buying an additional 24,589 shares in the last quarter. Edgestream Partners L.P. acquired a new position in IAC during the first quarter worth $575,000. Patient Capital Management LLC grew its holdings in IAC by 7.7% in the 4th quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company’s stock valued at $71,600,000 after buying an additional 97,938 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in IAC in the 2nd quarter valued at $1,649,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IAC shares. Barclays lowered their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Truist Financial boosted their target price on shares of IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded shares of IAC from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. JMP Securities started coverage on IAC in a report on Tuesday, July 9th. They issued an “outperform” rating and a $78.00 price objective on the stock. Finally, KeyCorp cut their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, IAC presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Stock Up 1.8 %

Shares of NASDAQ IAC opened at $52.24 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $50.48 and its two-hundred day moving average is $50.65. IAC Inc. has a 52-week low of $41.39 and a 52-week high of $58.29. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -33.06 and a beta of 1.32.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.39). IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. During the same quarter in the prior year, the firm posted ($0.76) EPS. IAC’s quarterly revenue was down 14.6% compared to the same quarter last year. Research analysts predict that IAC Inc. will post -0.79 EPS for the current 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.