Teachers Retirement System of The State of Kentucky Acquires 44,000 Shares of IAC Inc. (NASDAQ:IAC)

Teachers Retirement System of The State of Kentucky raised its holdings in shares of IAC Inc. (NASDAQ:IAC) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,267 shares of the company’s stock after purchasing an additional 44,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in IAC were worth $17,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in IAC in the second quarter worth $39,000. GAMMA Investing LLC lifted its holdings in shares of 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. Quarry LP boosted its stake in shares of IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after purchasing an additional 785 shares during the period. CWM LLC grew its holdings in IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock valued at $54,000 after purchasing an additional 408 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in IAC in the 2nd quarter worth about $60,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Price Performance

Shares of IAC opened at $46.26 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a 50 day moving average price of $50.23 and a 200-day moving average price of $50.12. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The stock has a market capitalization of $3.72 billion, a PE ratio of -107.58 and a beta of 1.31.

IAC (NASDAQ:IAC) last posted its earnings results on Tuesday, November 12th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The company had revenue of $938.70 million for the quarter, compared to analysts’ expectations of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. Equities analysts predict that IAC Inc. will post -3.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IAC has been the subject of several recent analyst reports. TD Cowen dropped their target price on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Truist Financial decreased their target price on IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. UBS Group upgraded shares of IAC to a “hold” rating in a report on Monday, October 28th. Finally, Benchmark reiterated a “buy” rating and set a $110.00 price objective on shares of IAC in a report on Tuesday, November 12th. Three 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.