Teachers Retirement System of The State of Kentucky Reduces Stake in IAC Inc. (NASDAQ:IAC)

Teachers Retirement System of The State of Kentucky lessened its position in IAC Inc. (NASDAQ:IAC - Free Report) by 92.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,175 shares of the company's stock after selling 309,092 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in IAC were worth $1,086,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IAC. Guggenheim Capital LLC purchased a new stake in IAC during the fourth quarter worth $211,000. Raymond James Financial Inc. purchased a new stake in IAC during the fourth quarter worth $8,015,000. Renaissance Technologies LLC lifted its holdings in IAC by 82.2% during the fourth quarter. Renaissance Technologies LLC now owns 98,627 shares of the company's stock worth $4,255,000 after buying an additional 44,500 shares during the period. Invesco Ltd. lifted its holdings in shares of IAC by 24.7% during the 4th quarter. Invesco Ltd. now owns 341,507 shares of the company's stock valued at $14,733,000 after purchasing an additional 67,746 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of IAC during the 4th quarter valued at $395,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

IAC Price Performance

NASDAQ IAC traded up $0.50 during mid-day trading on Thursday, hitting $35.44. The stock had a trading volume of 777,505 shares, compared to its average volume of 843,419. The firm's 50 day moving average is $40.75 and its 200 day moving average is $44.31. IAC Inc. has a twelve month low of $32.05 and a twelve month high of $58.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -5.44 and a beta of 1.24.

Analyst Ratings Changes

Several equities analysts recently issued reports on IAC shares. Citigroup cut their target price on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group cut their target price on IAC from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. JMP Securities cut their price target on IAC from $70.00 to $64.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price target on IAC from $80.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, KeyCorp increased their price target on IAC from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $62.15.

IAC Company 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.