Louisiana State Employees Retirement System Takes $1.65 Million Position in IAC Inc. (NASDAQ:IAC)

Louisiana State Employees Retirement System acquired a new position in shares of IAC Inc. (NASDAQ:IAC) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 35,200 shares of the company’s stock, valued at approximately $1,649,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IAC. Riverview Trust Co acquired a new position in IAC during the first quarter worth $27,000. CWM LLC lifted its stake in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in IAC during the 2nd quarter valued at about $60,000. Geneos Wealth Management Inc. acquired a new position in IAC in the 1st quarter valued at about $80,000. Finally, Headlands Technologies LLC grew its position in IAC by 106.2% in the 1st quarter. Headlands Technologies LLC now owns 3,501 shares of the company’s stock valued at $187,000 after acquiring an additional 1,803 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on IAC shares. Citigroup lowered their price objective on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays decreased their price target on shares of IAC from $73.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company upped their price objective on IAC from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Oppenheimer increased their price objective on IAC from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Finally, StockNews.com cut IAC from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.40.

IAC Trading Up 1.3 %

IAC opened at $51.96 on Friday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of -32.89 and a beta of 1.32. IAC Inc. has a 52 week low of $41.39 and a 52 week high of $58.29. The business’s 50 day moving average is $49.00 and its two-hundred day moving average is $50.99. 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) last issued 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). The business had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) earnings per share. On average, research analysts predict that IAC Inc. will post 0.09 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.