State of New Jersey Common Pension Fund D Sells 289 Shares of IAC Inc. (NASDAQ:IAC)

State of New Jersey Common Pension Fund D lessened its position in shares of IAC Inc. (NASDAQ:IAC) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,138 shares of the company’s stock after selling 289 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IAC were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of IAC in the second quarter worth $39,000. GAMMA Investing LLC increased its stake in IAC by 98.8% in the 3rd quarter. GAMMA Investing LLC now owns 990 shares of the company’s stock worth $53,000 after acquiring an additional 492 shares during the last quarter. CWM LLC raised 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 acquiring an additional 408 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of IAC during the second quarter worth about $60,000. Finally, Innealta Capital LLC bought a new position in shares of IAC in the second quarter worth approximately $146,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Trading Down 0.1 %

Shares of IAC stock opened at $46.95 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.68. The business has a 50-day moving average of $52.03 and a 200 day moving average of $50.88. The stock has a market capitalization of $3.78 billion, a PE ratio of -109.18 and a beta of 1.33. IAC Inc. has a 1-year low of $43.51 and a 1-year high of $58.29.

IAC (NASDAQ:IAC) last issued its earnings results on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. As a group, sell-side analysts anticipate that IAC Inc. will post -0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IAC shares. Citigroup cut their price target 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. TD Cowen dropped their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial reduced their target price on IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research note on Tuesday. Finally, Macquarie reiterated an “outperform” rating and set a $14.00 price objective on shares of IAC in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.91.

IAC Company 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.