Maryland State Retirement & Pension System Lowers Stock Position in IAC Inc. $IAC

Maryland State Retirement & Pension System cut its holdings in shares of IAC Inc. (NASDAQ:IACFree Report) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,633 shares of the company’s stock after selling 1,471 shares during the period. Maryland State Retirement & Pension System’s holdings in IAC were worth $845,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of IAC by 11.4% during the first quarter. JPMorgan Chase & Co. now owns 5,451,614 shares of the company’s stock worth $250,447,000 after acquiring an additional 557,134 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of IAC by 0.8% during the first quarter. Davis Selected Advisers now owns 2,657,782 shares of the company’s stock worth $122,099,000 after purchasing an additional 22,158 shares during the period. Burgundy Asset Management Ltd. acquired a new stake in shares of IAC during the first quarter worth $66,556,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of IAC by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,015,204 shares of the company’s stock worth $46,638,000 after purchasing an additional 47,944 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of IAC by 422.9% during the first quarter. AQR Capital Management LLC now owns 875,820 shares of the company’s stock worth $40,025,000 after purchasing an additional 708,332 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IAC. Wall Street Zen raised IAC from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. KeyCorp decreased their price target on IAC from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 6th. Truist Financial decreased their price target on IAC from $61.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Benchmark decreased their price target on IAC from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Piper Sandler reduced their target price on IAC from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

View Our Latest Research Report on IAC

IAC Price Performance

IAC stock opened at $32.15 on Monday. IAC Inc. has a one year low of $32.04 and a one year high of $55.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.87 and a current ratio of 2.87. The business has a fifty day moving average of $35.47 and a two-hundred day moving average of $36.65. The company has a market cap of $2.39 billion, a P/E ratio of -5.96 and a beta of 1.23.

IAC (NASDAQ:IACGet Free Report) last released its earnings results on Monday, August 4th. The company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $2.87. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company had revenue of $586.93 million during the quarter, compared to the consensus estimate of $601.38 million. During the same quarter last year, the company earned ($1.71) earnings per share. IAC’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

IAC Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for IAC (NASDAQ:IAC)

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