IAC Inc. (NASDAQ:IAC) Stock Holdings Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its position in IAC Inc. (NASDAQ:IAC - Free Report) by 424.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,094 shares of the company's stock after buying an additional 24,359 shares during the period. Maryland State Retirement & Pension System's holdings in IAC were worth $1,410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IAC. International Assets Investment Management LLC purchased a new position in IAC during the fourth quarter worth about $2,579,000. California Public Employees Retirement System increased its stake in shares of IAC by 10.4% during the 4th quarter. California Public Employees Retirement System now owns 118,026 shares of the company's stock valued at $6,182,000 after acquiring an additional 11,110 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of IAC by 21.8% during the 4th quarter. Victory Capital Management Inc. now owns 23,988 shares of the company's stock worth $1,256,000 after acquiring an additional 4,294 shares during the period. Natixis Advisors L.P. boosted its position in shares of IAC by 1.5% in the fourth quarter. Natixis Advisors L.P. now owns 76,988 shares of the company's stock worth $4,032,000 after acquiring an additional 1,126 shares during the last quarter. Finally, River Global Investors LLP grew its holdings in IAC by 22.8% in the fourth quarter. River Global Investors LLP now owns 19,908 shares of the company's stock valued at $1,043,000 after purchasing an additional 3,698 shares during the period. Hedge funds and other institutional investors own 88.90% of the company's stock.

IAC Stock Up 1.1 %

NASDAQ:IAC traded up $0.58 during trading hours on Friday, hitting $52.78. The stock had a trading volume of 483,524 shares, compared to its average volume of 705,125. The business has a 50 day simple moving average of $49.54 and a two-hundred day simple moving average of $50.98. IAC Inc. has a 1-year low of $41.39 and a 1-year high of $58.29. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.24 billion, a PE ratio of -33.41 and a beta of 1.32.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The firm had revenue of $949.50 million for the quarter, compared to analyst estimates of $942.77 million. IAC had a negative net margin of 2.54% and a negative return on equity of 3.31%. IAC'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. Analysts predict that IAC Inc. will post 0.09 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of IAC from a "buy" rating to a "hold" rating in a research note on Saturday, May 18th. Truist Financial increased their target price on IAC from $87.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their price target on IAC from $82.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, May 14th. Barclays cut their price objective on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Finally, KeyCorp decreased their target price on IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.40.

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.