State Street Corp Has $127.03 Million Holdings in IAC Inc. (NASDAQ:IAC)

State Street Corp lifted its stake in IAC Inc. (NASDAQ:IAC) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,360,210 shares of the company’s stock after purchasing an additional 28,577 shares during the period. State Street Corp owned 2.93% of IAC worth $127,027,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of IAC in the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC lifted its position in IAC by 98.8% during the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after buying an additional 492 shares in the last quarter. Quarry LP raised its holdings in IAC by 408.9% during the third quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares in the last quarter. CWM LLC boosted its holdings in shares of IAC by 55.6% in the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after buying an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in IAC in the second quarter valued at $60,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Down 3.8 %

Shares of NASDAQ IAC opened at $44.47 on Friday. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -103.42 and a beta of 1.31. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12 month low of $43.51 and a 12 month high of $58.29. The stock has a 50-day moving average price of $49.88 and a two-hundred day moving average price of $50.03.

IAC (NASDAQ:IAC) last released its quarterly earnings data 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). IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The company had revenue of $938.70 million for the quarter, compared to analyst estimates of $922.62 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. IAC’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, analysts forecast that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on IAC. KeyCorp reduced their target price on shares of IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. UBS Group upgraded shares of IAC to a “hold” rating in a research report on Monday, October 28th. Truist Financial reduced their price target on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays dropped their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, TD Cowen decreased their price target on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.00.

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.