IAC Inc. $IAC Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in IAC Inc. (NASDAQ:IAC) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,811 shares of the company’s stock after selling 431 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of IAC worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its stake in IAC by 64.8% in the 1st quarter. AlphaQuest LLC now owns 3,187 shares of the company’s stock valued at $146,000 after purchasing an additional 1,253 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in IAC in the 1st quarter valued at about $1,107,000. Royal Bank of Canada increased its stake in shares of IAC by 12.7% during the 1st quarter. Royal Bank of Canada now owns 449,115 shares of the company’s stock valued at $20,632,000 after acquiring an additional 50,463 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of IAC by 112.7% during the 1st quarter. Maverick Capital Ltd. now owns 18,874 shares of the company’s stock valued at $867,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of IAC during the 1st quarter valued at about $2,590,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

IAC Price Performance

Shares of NASDAQ IAC opened at $34.59 on Friday. IAC Inc. has a 1-year low of $32.04 and a 1-year high of $55.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The business’s fifty day moving average price is $36.08 and its two-hundred day moving average price is $37.36. The firm has a market capitalization of $2.57 billion, a PE ratio of -6.42 and a beta of 1.23.

IAC (NASDAQ:IAC) last issued its quarterly 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. The company had revenue of $586.93 million for the quarter, compared to analyst estimates of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%.The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company earned ($1.71) earnings per share. On average, research analysts expect that IAC Inc. will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IAC. UBS Group upped their price objective on shares of IAC from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Truist Financial dropped their price objective on shares of IAC from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IAC in a research note on Saturday, September 27th. Benchmark decreased their target price 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 decreased 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.92.

IAC 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.