California Public Employees Retirement System Acquires 11,110 Shares of IAC Inc. (NASDAQ:IAC)

California Public Employees Retirement System increased its holdings in IAC Inc. (NASDAQ:IAC) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,026 shares of the company’s stock after purchasing an additional 11,110 shares during the quarter. California Public Employees Retirement System’s holdings in IAC were worth $6,182,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. DAVENPORT & Co LLC grew its stake in shares of IAC by 0.6% in the fourth quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company’s stock worth $2,325,000 after purchasing an additional 271 shares during the last quarter. Covestor Ltd grew its stake in shares of IAC by 15.4% in the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares during the last quarter. Spire Wealth Management grew its stake in shares of IAC by 23.1% in the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after purchasing an additional 303 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of IAC by 1.6% in the third quarter. Gamco Investors INC. ET AL now owns 22,802 shares of the company’s stock worth $1,149,000 after purchasing an additional 350 shares during the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of IAC by 11.3% in the third quarter. Pathstone Family Office LLC now owns 4,719 shares of the company’s stock worth $238,000 after purchasing an additional 478 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group upped their price target on shares of IAC from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Truist Financial upped their price target on shares of IAC from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. KeyCorp cut their price target on shares of IAC from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Barclays upped their price target on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average target price of $78.23.

IAC Price Performance

IAC stock opened at $55.07 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.36 and a quick ratio of 2.36. IAC Inc. has a 1 year low of $41.39 and a 1 year high of $69.85. The stock has a market capitalization of $4.42 billion, a PE ratio of 22.21 and a beta of 1.34. The company’s 50-day moving average is $51.47 and its 200-day moving average is $50.34.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.53). IAC had a net margin of 6.09% and a negative return on equity of 4.15%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts expect that IAC Inc. will post -2.02 EPS for the current fiscal year.

IAC Company 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.