Artisan Partners Limited Partnership Has $11.57 Million Holdings in IAC Inc. $IAC

Artisan Partners Limited Partnership trimmed its stake in shares of IAC Inc. (NASDAQ:IAC) by 62.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,519 shares of the company’s stock after selling 574,042 shares during the period. Artisan Partners Limited Partnership owned about 0.47% of IAC worth $11,567,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in IAC. Oregon Public Employees Retirement Fund increased its holdings in IAC by 2.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,217 shares of the company’s stock worth $518,000 after purchasing an additional 300 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of IAC by 0.6% during the second quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company’s stock worth $1,896,000 after buying an additional 316 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in IAC by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 76,432 shares of the company’s stock valued at $2,854,000 after buying an additional 410 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in IAC by 3.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 15,182 shares of the company’s stock valued at $517,000 after acquiring an additional 482 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in IAC by 2.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the company’s stock worth $1,060,000 after acquiring an additional 700 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

IAC has been the topic of a number of research reports. Wall Street Zen raised shares of IAC from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays lowered their price target on shares of IAC from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Truist Financial reduced their price objective on shares of IAC from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Jefferies Financial Group lifted their target price on IAC from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IAC in a report on Thursday, January 22nd. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

IAC Stock Up 1.0%

IAC stock opened at $38.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.56. The company’s 50-day moving average is $38.05 and its 200-day moving average is $36.07. The firm has a market capitalization of $2.73 billion, a PE ratio of -28.81 and a beta of 1.12. IAC Inc. has a fifty-two week low of $29.56 and a fifty-two week high of $50.49.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($1.66). The business had revenue of $645.98 million for the quarter, compared to the consensus estimate of $641.01 million. IAC had a negative return on equity of 2.43% and a negative net margin of 4.35%.The company’s revenue for the quarter was down 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.39) EPS. Sell-side analysts anticipate that IAC Inc. will post 0.43 earnings per share for the current year.

IAC Company Profile

IAC (NASDAQ: IAC) is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company’s operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC’s Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.