New York State Common Retirement Fund Trims Stock Position in IAC Inc. (NASDAQ:IAC)

New York State Common Retirement Fund trimmed its holdings in IAC Inc. (NASDAQ:IAC) by 18.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,597 shares of the company’s stock after selling 14,559 shares during the quarter. New York State Common Retirement Fund owned 0.08% of IAC worth $3,279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Davis Selected Advisers lifted its stake in shares of IAC by 16.9% in the 3rd quarter. Davis Selected Advisers now owns 2,960,918 shares of the company’s stock valued at $149,201,000 after purchasing an additional 428,065 shares during the period. FMR LLC boosted its stake in shares of IAC by 6.8% during the 3rd quarter. FMR LLC now owns 1,470,853 shares of the company’s stock worth $74,116,000 after acquiring an additional 93,467 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of IAC by 8.1% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,436,247 shares of the company’s stock valued at $72,372,000 after acquiring an additional 107,878 shares during the period. TimesSquare Capital Management LLC increased its stake in shares of IAC by 66.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,034,411 shares of the company’s stock valued at $52,124,000 after purchasing an additional 413,440 shares in the last quarter. Finally, Newtyn Management LLC raised its holdings in IAC by 3.3% in the 3rd quarter. Newtyn Management LLC now owns 930,000 shares of the company’s stock worth $46,863,000 after purchasing an additional 30,000 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group raised their price objective on IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. KeyCorp cut their price target on shares of IAC from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Friday. Barclays upped their price objective on shares of IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, Truist Financial lifted their target price on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.23.

IAC Stock Up 1.2 %

IAC stock opened at $55.75 on Tuesday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 22.48 and a beta of 1.34. The firm has a 50-day moving average of $51.47 and a two-hundred day moving average of $50.48. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $69.85. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last issued its earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a net margin of 6.09% and a negative return on equity of 4.15%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts forecast that IAC Inc. will post -2.02 earnings per share for the current fiscal year.

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.