Teachers Retirement System of The State of Kentucky Grows Stake in IAC Inc. (NASDAQ:IAC)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 26.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,267 shares of the company’s stock after purchasing an additional 60,875 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.36% of IAC worth $13,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in shares of IAC in the 4th quarter valued at $27,053,000. Principal Financial Group Inc. lifted its position in IAC by 5,474.2% in the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock valued at $16,090,000 after acquiring an additional 337,268 shares during the last quarter. DME Capital Management LP acquired a new position in IAC in the second quarter valued at $13,655,000. Bank of New York Mellon Corp boosted its stake in IAC by 113.4% in the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock valued at $24,891,000 after acquiring an additional 282,304 shares in the last quarter. Finally, Freshford Capital Management LLC grew its holdings in shares of IAC by 18.7% during the fourth quarter. Freshford Capital Management LLC now owns 1,645,314 shares of the company’s stock worth $86,182,000 after purchasing an additional 259,000 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a research report on Tuesday, August 27th. Truist Financial increased their price objective on IAC from $87.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp cut their target price on shares of IAC from $67.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays lowered their price objective 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. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, IAC presently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

IAC Trading Down 4.0 %

Shares of IAC opened at $51.66 on Wednesday. IAC Inc. has a twelve month low of $41.39 and a twelve month high of $58.29. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.15 billion, a P/E ratio of -32.70 and a beta of 1.32. The firm’s 50-day moving average is $51.44 and its two-hundred day moving average is $50.67.

IAC (NASDAQ:IAC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.39). The firm had revenue of $949.50 million during the quarter, compared to analysts’ expectations of $942.77 million. IAC had a negative net margin of 3.95% and a negative return on equity of 2.35%. The business’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 earned ($0.76) earnings per share. On average, research analysts predict that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

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.