IAC Inc. $IAC Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in shares of IAC Inc. (NASDAQ:IAC) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 504,604 shares of the company’s stock after purchasing an additional 40,468 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.68% of IAC worth $17,192,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in IAC. North Capital Inc. purchased a new stake in shares of IAC during the 2nd quarter worth approximately $75,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in IAC during the 2nd quarter worth $83,000. Geneos Wealth Management Inc. lifted its position in IAC by 96.2% in the second quarter. Geneos Wealth Management Inc. now owns 3,060 shares of the company’s stock valued at $114,000 after acquiring an additional 1,500 shares during the last quarter. United Services Automobile Association purchased a new stake in IAC in the first quarter valued at $207,000. Finally, Atria Investments Inc boosted its stake in IAC by 18.7% in the second quarter. Atria Investments Inc now owns 5,666 shares of the company’s stock valued at $212,000 after acquiring an additional 891 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Stock Performance

NASDAQ:IAC opened at $34.31 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.56. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -25.80 and a beta of 1.12. The firm’s fifty day moving average price is $38.46 and its 200 day moving average price is $36.07. IAC Inc. has a 1-year low of $29.56 and a 1-year high of $50.49.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.67 by ($1.66). The firm had revenue of $645.98 million during the quarter, compared to analyst estimates of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The firm’s revenue was down 34.7% on a year-over-year basis. During the same quarter last year, the business posted ($2.39) EPS. On average, sell-side analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup boosted their target price on IAC from $38.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer cut shares of IAC from an “outperform” rating to a “market perform” rating in a report on Monday, December 15th. JPMorgan Chase & Co. upped their price target on shares of IAC from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. KeyCorp decreased their price target on shares of IAC from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, Benchmark dropped their price objective on shares of IAC from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.83.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.