Oregon Public Employees Retirement Fund Makes New $796,000 Investment in IAC Inc. (NASDAQ:IAC)

Oregon Public Employees Retirement Fund purchased a new position in IAC Inc. (NASDAQ:IAC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,000 shares of the company's stock, valued at approximately $796,000.

A number of other large investors have also made changes to their positions in IAC. Freshford Capital Management LLC boosted its stake in IAC by 18.7% in the 4th 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 in the last quarter. Whitebox Advisors LLC lifted its stake in shares of IAC by 9.5% during the first quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company's stock worth $74,812,000 after buying an additional 121,664 shares during the period. Patient Capital Management LLC grew its holdings in shares of IAC by 7.7% during the fourth quarter. Patient Capital Management LLC now owns 1,366,938 shares of the company's stock valued at $71,600,000 after buying an additional 97,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IAC by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 838,184 shares of the company's stock valued at $43,904,000 after acquiring an additional 25,988 shares during the period. Finally, Norges Bank purchased a new position in IAC in the 4th quarter worth $39,426,000. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IAC. Benchmark reiterated a "buy" rating and issued a $110.00 price objective on shares of IAC in a research note on Tuesday, August 27th. KeyCorp lowered their target price on IAC from $67.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. Truist Financial lifted their price target on IAC from $87.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Barclays lowered their price objective on IAC from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of IAC from a "buy" rating to a "hold" rating in a report on Saturday, May 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.40.

IAC Trading Up 2.5 %

Shares of NASDAQ IAC traded up $1.24 during trading on Wednesday, hitting $50.47. 602,827 shares of the company were exchanged, compared to its average volume of 695,730. The company has a fifty day moving average price of $50.18 and a 200-day moving average price of $50.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $4.05 billion, a PE ratio of -31.01 and a beta of 1.32. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $58.29.

IAC (NASDAQ:IAC - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.39). The business 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%. IAC's revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.76) EPS. As a group, equities research analysts expect that IAC Inc. will post -0.79 EPS for the current 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.