Teacher Retirement System of Texas Has $2.32 Million Position in IAC Inc. (NASDAQ:IAC)

Teacher Retirement System of Texas reduced its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,450 shares of the company's stock after selling 29,065 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of IAC worth $2,318,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd lifted its stake in shares of IAC by 287.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 616 shares of the company's stock valued at $27,000 after acquiring an additional 457 shares during the period. Parallel Advisors LLC increased its position in shares of IAC by 1,422.0% in the 1st quarter. Parallel Advisors LLC now owns 624 shares of the company's stock valued at $29,000 after buying an additional 583 shares in the last quarter. Fifth Third Bancorp lifted its holdings in IAC by 426.1% during 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 holdings in IAC by 118.6% during 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 raised its position in shares of IAC by 219.4% during the first quarter. GAMMA Investing LLC now owns 757 shares of the company's stock worth $35,000 after purchasing an additional 520 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on IAC shares. JMP Securities decreased their price target 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 lowered their target price on IAC from $64.00 to $49.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. UBS Group decreased their price target on IAC from $54.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Cowen reiterated a "buy" rating on shares of IAC in a report on Monday, May 5th. Finally, Citigroup reduced their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, IAC currently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

IAC Stock Performance

Shares of NASDAQ IAC opened at $39.94 on Thursday. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $37.07 and a 200 day moving average of $40.21. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -4.13 and a beta of 1.23. IAC Inc. has a 12-month low of $32.05 and a 12-month high of $55.40.

IAC (NASDAQ:IAC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($2.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.14. The firm had revenue of $570.49 million for 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 company's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. On average, research analysts anticipate that IAC Inc. will post 0.43 earnings per share 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.

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