Public Sector Pension Investment Board Has $8.07 Million Stock Position in IAC Inc. (NASDAQ:IAC)

Public Sector Pension Investment Board lowered its position in shares of IAC Inc. (NASDAQ:IAC) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,983 shares of the company’s stock after selling 3,700 shares during the quarter. Public Sector Pension Investment Board owned 0.19% of IAC worth $8,072,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IAC. Comerica Bank lifted its stake in IAC by 52.7% in the 1st quarter. Comerica Bank now owns 10,929 shares of the company’s stock worth $583,000 after acquiring an additional 3,772 shares in the last quarter. Swedbank AB acquired a new stake in shares of IAC during the first quarter worth approximately $11,460,000. Tandem Capital Management Corp ADV increased its stake in IAC by 0.6% in the 2nd quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock valued at $2,192,000 after buying an additional 260 shares during the period. Investment Partners Asset Management Inc. lifted its holdings in shares of IAC by 34.3% during the 2nd quarter. Investment Partners Asset Management Inc. now owns 10,179 shares of the company’s stock valued at $477,000 after buying an additional 2,599 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of IAC by 55.6% during the 2nd quarter. CWM LLC now owns 1,142 shares of the company’s stock worth $54,000 after buying an additional 408 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

IAC stock opened at $47.33 on Friday. The business has a 50 day simple moving average of $51.04 and a 200 day simple moving average of $50.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.75. The company has a market capitalization of $3.81 billion, a PE ratio of -110.07 and a beta of 1.33. IAC Inc. has a one year low of $43.51 and a one year high of $58.29.

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

Analyst Ratings Changes

Several research firms recently weighed in on IAC. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of IAC in a research report on Tuesday, November 12th. KeyCorp reduced their price objective on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Truist Financial dropped their target price on shares of IAC from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. TD Cowen decreased their price target on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays cut their price objective on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

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.