IAC Inc. (NASDAQ:IAC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in IAC Inc. (NASDAQ:IAC) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,141 shares of the company’s stock after selling 10,288 shares during the quarter. Principal Financial Group Inc. owned about 0.41% of IAC worth $17,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IAC. Edgestream Partners L.P. purchased a new stake in shares of IAC in the first quarter valued at about $575,000. Louisiana State Employees Retirement System purchased a new stake in shares of IAC in the 2nd quarter valued at approximately $1,649,000. Highbridge Capital Management LLC increased its holdings in shares of IAC by 70.4% during the 2nd quarter. Highbridge Capital Management LLC now owns 165,329 shares of the company’s stock worth $7,746,000 after buying an additional 68,291 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of IAC by 5.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,633,452 shares of the company’s stock valued at $76,527,000 after buying an additional 79,951 shares during the period. Finally, Swedbank AB purchased a new stake in shares of IAC during the 1st quarter valued at approximately $11,460,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

IAC Price Performance

Shares of IAC opened at $46.98 on Friday. The company has a market cap of $3.77 billion, a P/E ratio of -110.02 and a beta of 1.33. IAC Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $58.29. The company has a quick ratio of 2.68, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $52.13 and its 200 day moving average price is $50.91.

IAC (NASDAQ:IAC) last posted its quarterly earnings results on Monday, November 11th. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($0.20) by ($2.73). The business had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. IAC had a negative return on equity of 5.63% and a negative net margin of 0.34%. The business’s revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. On average, research analysts forecast that IAC Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp cut their target price on IAC from $67.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. Barclays cut their price objective on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup decreased their target price on shares of IAC from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Truist Financial dropped their price target on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Macquarie reissued an “outperform” rating and issued a $14.00 price target on shares of IAC in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.91.

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.