IAC Inc. (NASDAQ:IAC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of IAC Inc. (NASDAQ:IAC - Free Report) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,450 shares of the company's stock after selling 29,065 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of IAC worth $2,318,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its stake in shares of IAC by 287.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock worth $27,000 after acquiring an additional 457 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of IAC by 1,422.0% in the first quarter. Parallel Advisors LLC now owns 624 shares of the company's stock worth $29,000 after acquiring an additional 583 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of IAC by 426.1% in the first quarter. Fifth Third Bancorp now owns 626 shares of the company's stock worth $29,000 after acquiring an additional 507 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of IAC by 118.6% in the first quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after acquiring an additional 369 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of IAC by 219.4% in the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after acquiring an additional 520 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

IAC Stock Performance

Shares of IAC stock traded down $1.07 on Friday, reaching $40.60. 742,734 shares of the company were exchanged, compared to its average volume of 835,108. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.70 and a current ratio of 2.70. The company's 50-day moving average is $37.30 and its two-hundred day moving average is $40.19. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -4.20 and a beta of 1.23. IAC Inc. has a 1-year low of $32.05 and a 1-year high of $55.40.

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

Analyst Upgrades and Downgrades

IAC has been the topic of several recent analyst reports. Piper Sandler cut their price target on IAC from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Barclays cut their price objective on IAC from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. JMP Securities cut their price objective on IAC from $64.00 to $47.00 and set a "market outperform" rating on the stock in a research note on Tuesday, June 10th. KeyCorp cut their price objective on IAC from $64.00 to $49.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group cut their price objective on IAC from $54.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

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.