Strs Ohio Acquires 8,374 Shares of IAC Inc. $IAC

Strs Ohio grew its holdings in IAC Inc. (NASDAQ:IAC) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,477 shares of the company’s stock after purchasing an additional 8,374 shares during the period. Strs Ohio’s holdings in IAC were worth $1,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IAC. Burgundy Asset Management Ltd. bought a new stake in shares of IAC in the first quarter valued at approximately $66,556,000. AQR Capital Management LLC raised its position in shares of IAC by 422.9% in the first quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock valued at $40,025,000 after purchasing an additional 708,332 shares during the period. JPMorgan Chase & Co. raised its position in shares of IAC by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company’s stock valued at $250,447,000 after purchasing an additional 557,134 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in IAC by 806.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 511,103 shares of the company’s stock worth $19,872,000 after acquiring an additional 454,733 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in IAC by 141.1% during the 1st quarter. Public Sector Pension Investment Board now owns 425,475 shares of the company’s stock worth $19,546,000 after acquiring an additional 248,983 shares during the period. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler decreased their target price 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. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group decreased their target price on shares of IAC from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday. Oppenheimer decreased their target price 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. Finally, Truist Financial decreased their target price on shares of IAC from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.54.

IAC Stock Performance

IAC stock opened at $33.01 on Thursday. The firm’s fifty day moving average price is $34.57 and its 200-day moving average price is $36.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.56. The stock has a market cap of $2.45 billion, a P/E ratio of -12.09 and a beta of 1.25. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $55.16.

IAC (NASDAQ:IAC) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $589.79 million for the quarter, compared to analysts’ expectations of $601.86 million. IAC had a negative net margin of 8.27% and a negative return on equity of 4.61%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the business posted ($2.93) EPS. On average, equities research analysts expect that IAC Inc. will post 0.43 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.