State of New Jersey Common Pension Fund D Increases Stock Holdings in IAC Inc. $IAC

State of New Jersey Common Pension Fund D increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 23.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,559 shares of the company’s stock after buying an additional 9,723 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IAC were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its position in shares of IAC by 282.2% during the 1st quarter. TD Private Client Wealth LLC now owns 581 shares of the company’s stock valued at $27,000 after buying an additional 429 shares in the last quarter. GAMMA Investing LLC lifted its holdings in IAC by 219.4% in the 1st quarter. GAMMA Investing LLC now owns 757 shares of the company’s stock valued at $35,000 after purchasing an additional 520 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in IAC by 240.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $44,000 after purchasing an additional 829 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in IAC in the 2nd quarter valued at $51,000. Finally, US Bancorp DE lifted its holdings in IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company’s stock valued at $103,000 after purchasing an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Stock Up 1.3%

IAC stock opened at $32.22 on Friday. The company’s 50 day moving average price is $34.79 and its 200 day moving average price is $36.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. IAC Inc. has a fifty-two week low of $31.30 and a fifty-two week high of $55.16. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -5.98 and a beta of 1.23.

IAC (NASDAQ:IAC) last released its earnings results on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The firm had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. During the same period in the prior year, the firm earned ($1.71) earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that IAC Inc. will post 0.43 EPS for the current fiscal year.

Analyst Ratings Changes

IAC has been the topic of a number of research reports. Truist Financial decreased their price objective on IAC from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. UBS Group upped their price objective on IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Piper Sandler reduced their price objective on shares of IAC from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Benchmark reduced their price objective on shares of IAC from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Oppenheimer reduced their price objective on shares of IAC from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell 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 $47.92.

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.