Thrivent Financial for Lutherans Sells 2,483 Shares of IAC Inc. (NASDAQ:IAC)

Thrivent Financial for Lutherans cut its stake in shares of IAC Inc. (NASDAQ:IAC) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,515 shares of the company’s stock after selling 2,483 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of IAC worth $2,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IAC. Comerica Bank increased its stake in IAC by 52.7% in the first quarter. Comerica Bank now owns 10,929 shares of the company’s stock valued at $583,000 after purchasing an additional 3,772 shares in the last quarter. Swedbank AB acquired a new position in IAC in the first quarter valued at about $11,460,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of IAC by 4.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 229,392 shares of the company’s stock worth $12,236,000 after acquiring an additional 10,168 shares in the last quarter. Tandem Capital Management Corp ADV raised its position in shares of IAC by 0.6% during the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company’s stock worth $2,192,000 after purchasing an additional 260 shares during the period. Finally, Investment Partners Asset Management Inc. lifted its holdings in shares of IAC by 34.3% during the 2nd quarter. Investment Partners Asset Management Inc. now owns 10,179 shares of the company’s stock valued at $477,000 after purchasing an additional 2,599 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

IAC Price Performance

NASDAQ:IAC opened at $47.76 on Wednesday. The stock has a market capitalization of $3.84 billion, a PE ratio of -111.07 and a beta of 1.33. IAC Inc. has a 1-year low of $43.51 and a 1-year high of $58.29. The firm has a fifty day simple moving average of $51.47 and a 200 day simple moving average of $50.55. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.30.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($2.73). The firm had revenue of $938.70 million during the quarter, compared to the consensus estimate of $922.62 million. IAC had a negative net margin of 0.34% and a negative return on equity of 5.63%. The business’s revenue was down 15.5% on a year-over-year basis. During the same period last year, the business earned ($0.30) EPS. On average, research analysts expect that IAC Inc. will post -3.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IAC. KeyCorp lowered their target price on IAC from $66.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Truist Financial lowered their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. TD Cowen cut their price objective on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Barclays lowered their target price on IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Macquarie restated an “outperform” rating and issued a $14.00 price target on shares of IAC in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.36.

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.