State of New Jersey Common Pension Fund D Has $2.82 Million Position in IAC Inc. (NASDAQ:IAC)

State of New Jersey Common Pension Fund D lifted its position in shares of IAC Inc. (NASDAQ:IAC – Get Rating) by 12.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,864 shares of the company’s stock after purchasing an additional 5,721 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in IAC were worth $2,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Private Ocean LLC acquired a new position in IAC during the second quarter valued at approximately $29,000. Tortoise Investment Management LLC acquired a new position in IAC during the second quarter valued at approximately $32,000. Parallel Advisors LLC boosted its position in IAC by 106.6% during the second quarter. Parallel Advisors LLC now owns 564 shares of the company’s stock valued at $43,000 after purchasing an additional 291 shares during the last quarter. Lindbrook Capital LLC boosted its position in IAC by 28.4% during the second quarter. Lindbrook Capital LLC now owns 664 shares of the company’s stock valued at $50,000 after purchasing an additional 147 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in IAC during the third quarter valued at approximately $40,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IAC. Credit Suisse Group increased their price target on IAC from $101.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, November 10th. Cowen dropped their price objective on IAC to $75.00 in a research note on Tuesday, November 15th. Piper Sandler dropped their price objective on IAC from $100.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 9th. StockNews.com started coverage on IAC in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, KeyCorp dropped their price objective on IAC from $100.00 to $60.00 in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Insiders Place Their Bets

In related news, Director Michael D. Eisner acquired 73,641 shares of the stock in a transaction on Tuesday, November 22nd. The shares were purchased at an average price of $46.78 per share, for a total transaction of $3,444,925.98. Following the purchase, the director now directly owns 124,484 shares in the company, valued at $5,823,361.52. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 13.30% of the company’s stock.

IAC Price Performance

Shares of NASDAQ IAC opened at $52.11 on Monday. The firm has a market cap of $4.33 billion, a P/E ratio of -3.92 and a beta of 0.98. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.31. IAC Inc. has a 1-year low of $41.52 and a 1-year high of $138.76. The business’s 50 day moving average is $47.29 and its 200-day moving average is $57.94.

IAC (NASDAQ:IAC – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.82). IAC had a negative return on equity of 5.14% and a negative net margin of 22.34%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. Equities research analysts predict that IAC Inc. will post -14.15 earnings per share for the current year.

IAC Company Profile

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IAC/InterActiveCorp 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.