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

Public Sector Pension Investment Board raised its holdings in IAC Inc. (NASDAQ:IAC) by 8.7% in the third quarter, Holdings Channel.com reports. The fund owned 504,604 shares of the company’s stock after buying an additional 40,468 shares during the quarter. Public Sector Pension Investment Board’s holdings in IAC were worth $17,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in IAC by 38.6% during the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company’s stock worth $19,087,000 after buying an additional 115,652 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of IAC during the 1st quarter worth approximately $207,000. Empowered Funds LLC boosted its stake in shares of IAC by 9.8% during the 1st quarter. Empowered Funds LLC now owns 8,037 shares of the company’s stock worth $369,000 after acquiring an additional 718 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of IAC in the 1st quarter worth approximately $270,000. Finally, KLP Kapitalforvaltning AS increased its stake in IAC by 13.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the company’s stock valued at $624,000 after purchasing an additional 2,000 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

IAC Price Performance

Shares of NASDAQ:IAC opened at $34.31 on Friday. IAC Inc. has a 52 week low of $29.56 and a 52 week high of $50.49. The business has a fifty day simple moving average of $38.46 and a 200-day simple moving average of $36.07. The company has a quick ratio of 2.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The company has a market cap of $2.46 billion, a P/E ratio of -25.80 and a beta of 1.12.

IAC (NASDAQ:IAC) last released its earnings results on Tuesday, February 3rd. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.66). The company 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%.IAC’s revenue was down 34.7% on a year-over-year basis. During the same period in the prior year, the business posted ($2.39) earnings per share. Equities research analysts forecast that IAC Inc. will post 0.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Oppenheimer downgraded IAC from an “outperform” rating to a “market perform” rating in a research report on Monday, December 15th. Jefferies Financial Group boosted their price objective on shares of IAC from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup raised their target price on shares of IAC from $38.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Barclays cut their target price on shares of IAC from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

About IAC

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.