Principal Financial Group Inc. Has $16.16 Million Position in IAC Inc. (NASDAQ:IAC)

Principal Financial Group Inc. boosted its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 351,787 shares of the company's stock after buying an additional 8,396 shares during the period. Principal Financial Group Inc. owned about 0.45% of IAC worth $16,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of IAC by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,906,737 shares of the company's stock worth $341,097,000 after buying an additional 43,772 shares during the last quarter. Southeastern Asset Management Inc. TN raised its position in IAC by 21.3% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,751,940 shares of the company's stock valued at $118,719,000 after buying an additional 483,613 shares during the last quarter. Corvex Management LP grew its stake in IAC by 61.8% in the fourth quarter. Corvex Management LP now owns 2,410,370 shares of the company's stock valued at $103,983,000 after purchasing an additional 920,875 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its stake in IAC by 5.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,669,665 shares of the company's stock valued at $72,029,000 after purchasing an additional 84,121 shares in the last quarter. Finally, Asset Value Investors Ltd boosted its stake in shares of IAC by 9.4% during the 1st quarter. Asset Value Investors Ltd now owns 1,011,350 shares of the company's stock worth $46,461,000 after acquiring an additional 87,100 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Wall Street Analyst Weigh In

IAC has been the topic of a number of analyst reports. Piper Sandler reduced their price target on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Citigroup reduced their price objective on IAC from $47.55 to $45.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group cut their price target on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays dropped their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, KeyCorp decreased their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, IAC has an average rating of "Moderate Buy" and an average target price of $54.08.

IAC Price Performance

NASDAQ:IAC traded down $0.03 on Tuesday, reaching $40.42. The stock had a trading volume of 449,601 shares, compared to its average volume of 834,858. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.40. The stock has a fifty day moving average price of $37.40 and a 200-day moving average price of $40.13. The company has a market capitalization of $2.99 billion, a P/E ratio of -4.18 and a beta of 1.23. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $1.14. The business had revenue of $570.49 million during the quarter, compared to analysts' expectations of $809.18 million. IAC had a negative net margin of 23.25% and a negative return on equity of 11.11%. The business's revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. Research analysts forecast that IAC Inc. will post 0.43 EPS for the current year.

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.