Strs Ohio Makes New Investment in IAC Inc. $IAC

Key Points

• Strs Ohio has acquired a new position in IAC Inc., purchasing 28,103 shares valued at approximately $1,291,000.
• Shares of IAC have increased by 2.8%, currently trading at $38.00, with an average price target from analysts set at $47.92.
• The company reported earnings of $2.57 per share, significantly surpassing the consensus estimate of ($0.30), although revenue declined by 7.5% year-over-year.

Strs Ohio purchased a new position in shares of IAC Inc. (NASDAQ:IAC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,103 shares of the company's stock, valued at approximately $1,291,000.

Several other institutional investors also recently modified their holdings of the stock. Focus Partners Wealth acquired a new position in shares of IAC during the first quarter worth $270,000. Empowered Funds LLC increased its holdings in shares of IAC by 9.8% during the first quarter. Empowered Funds LLC now owns 8,037 shares of the company's stock worth $369,000 after buying an additional 718 shares in the last quarter. United Services Automobile Association acquired a new position in shares of IAC during the first quarter worth $207,000. Caxton Associates LLP acquired a new position in shares of IAC during the first quarter worth $694,000. Finally, Goldman Sachs Group Inc. increased its holdings in IAC by 38.6% in the first quarter. Goldman Sachs Group Inc. now owns 415,484 shares of the company's stock valued at $19,087,000 after purchasing an additional 115,652 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Stock Performance

Shares of IAC stock traded down $1.77 during trading hours on Friday, hitting $36.23. 2,015,053 shares of the company were exchanged, compared to its average volume of 1,123,375. The firm has a fifty day simple moving average of $37.38 and a 200 day simple moving average of $38.11. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.29. IAC Inc. has a 52-week low of $32.04 and a 52-week high of $55.40. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -6.72 and a beta of 1.26.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $2.87. IAC had a negative net margin of 14.52% and a negative return on equity of 8.23%. The company had revenue of $586.93 million during the quarter, compared to analyst estimates of $601.38 million. During the same quarter last year, the business posted ($1.71) EPS. IAC's quarterly revenue was down 7.5% compared to the same quarter last year. Research analysts predict that IAC Inc. will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on IAC. JMP Securities decreased their price objective on IAC from $64.00 to $47.00 and set a "market outperform" rating for the company in a report on Tuesday, June 10th. Benchmark dropped their price target on shares of IAC from $63.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Oppenheimer dropped their price target on shares of IAC from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. UBS Group raised their price target on shares of IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of IAC from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.92.

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.