IAC Inc. (NASDAQ:IAC) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 5,474.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,429 shares of the company's stock after buying an additional 337,268 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of IAC worth $16,090,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in IAC during the 2nd quarter valued at $146,000. Bank of New York Mellon Corp grew its stake in shares of IAC by 113.4% during 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. Louisiana State Employees Retirement System purchased a new stake in shares of IAC during the second quarter worth about $1,649,000. 1620 Investment Advisors Inc. acquired a new position in shares of IAC in the second quarter worth about $60,000. Finally, Alhambra Investment Management LLC boosted its holdings in IAC by 5.8% in the second quarter. Alhambra Investment Management LLC now owns 11,357 shares of the company's stock valued at $532,000 after purchasing an additional 618 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IAC shares. Barclays reduced their price objective on shares of IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their price target on shares of IAC from $70.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. KeyCorp lowered their price objective on IAC from $67.00 to $66.00 and set an "overweight" rating for the company in a report on Friday, August 16th. Benchmark reaffirmed a "buy" rating and set a $110.00 target price on shares of IAC in a report on Tuesday, August 27th. Finally, Wells Fargo & Company boosted their price target on IAC from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, May 14th. Two analysts have rated the stock with a hold rating and nine have given 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 target price of $76.40.

IAC Price Performance

IAC stock traded down $0.12 during midday trading on Thursday, hitting $51.63. The company's stock had a trading volume of 420,259 shares, compared to its average volume of 699,941. IAC Inc. has a 12 month low of $41.39 and a 12 month high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.15 billion, a PE ratio of -32.75 and a beta of 1.32. The stock's 50-day moving average price is $49.86 and its 200-day moving average price is $50.91.

IAC (NASDAQ:IAC - Get Free Report) last issued 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 company had revenue of $949.50 million during the quarter, compared to analysts' expectations of $942.77 million. IAC had a negative return on equity of 2.35% and a negative net margin of 3.95%. The company's revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) EPS. Analysts anticipate 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.