NJ State Employees Deferred Compensation Plan Acquires New Holdings in IAC Inc. (NASDAQ:IAC)

NJ State Employees Deferred Compensation Plan acquired a new stake in IAC Inc. (NASDAQ:IAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,875 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System raised its position in shares of IAC by 10.4% during the 4th quarter. California Public Employees Retirement System now owns 118,026 shares of the company’s stock worth $6,182,000 after buying an additional 11,110 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of IAC by 14.4% during the 4th quarter. Handelsbanken Fonder AB now owns 11,900 shares of the company’s stock worth $623,000 after buying an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IAC by 15.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,678 shares of the company’s stock worth $874,000 after purchasing an additional 2,262 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of IAC by 9.5% in the 4th quarter. WCM Investment Management LLC now owns 295,871 shares of the company’s stock worth $15,758,000 after purchasing an additional 25,704 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of IAC by 33.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 5,644 shares of the company’s stock worth $296,000 after purchasing an additional 1,427 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

IAC Trading Up 1.1 %

IAC stock traded up $0.52 during trading hours on Friday, reaching $48.62. 555,740 shares of the company’s stock traded hands, compared to its average volume of 545,306. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.36 and a current ratio of 2.36. IAC Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $69.85. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 19.40 and a beta of 1.32. The firm’s 50 day moving average is $52.29 and its 200-day moving average is $50.24.

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 analysts’ consensus estimates of ($0.20) by ($0.53). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. IAC had a net margin of 6.09% and a negative return on equity of 4.15%. On average, analysts predict that IAC Inc. will post -2.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IAC. UBS Group boosted their price objective 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 boosted their target price on shares of IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. KeyCorp boosted their price objective on shares of IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, Barclays boosted their price target on shares of IAC from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.69.

About IAC

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.