NJ State Employees Deferred Compensation Plan Buys New Stake in IAC Inc. (NASDAQ:IAC)

NJ State Employees Deferred Compensation Plan bought a new stake in IAC Inc. (NASDAQ:IAC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,875 shares of the company’s stock, valued at approximately $203,000.

Several other large investors have also recently bought and sold shares of the business. Spire Wealth Management increased its position in shares of IAC by 23.1% during the third quarter. Spire Wealth Management now owns 1,612 shares of the company’s stock worth $81,000 after purchasing an additional 303 shares in the last quarter. Covestor Ltd increased its position in shares of IAC by 15.4% during the third quarter. Covestor Ltd now owns 2,144 shares of the company’s stock worth $108,000 after purchasing an additional 286 shares in the last quarter. Headlands Technologies LLC increased its position in shares of IAC by 39.7% during the third quarter. Headlands Technologies LLC now owns 2,702 shares of the company’s stock worth $136,000 after purchasing an additional 768 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of IAC during the third quarter worth about $201,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of IAC by 1,116.0% during the third quarter. Asset Management One Co. Ltd. now owns 4,171 shares of the company’s stock worth $210,000 after buying an additional 3,828 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

IAC Price Performance

Shares of NASDAQ:IAC traded up $0.52 during trading on Friday, hitting $48.62. 555,740 shares of the stock were exchanged, compared to its average volume of 545,306. The company has a fifty day moving average price of $52.29 and a two-hundred day moving average price of $50.24. The company has a market cap of $3.89 billion, a PE ratio of 19.40 and a beta of 1.32. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. IAC Inc. has a 12-month low of $41.39 and a 12-month high of $69.85.

IAC (NASDAQ:IAC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.53). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. IAC had a negative return on equity of 4.15% and a net margin of 6.09%. On average, analysts forecast that IAC Inc. will post -2.02 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Truist Financial raised their price target on IAC from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. UBS Group raised their price target on IAC from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Barclays raised their price target on IAC from $62.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, KeyCorp raised their price target on IAC from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.69.

About IAC

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.