State of New Jersey Common Pension Fund D Acquires 5,916 Shares of IAC Inc. (NASDAQ:IAC)

State of New Jersey Common Pension Fund D grew its holdings in shares of IAC Inc. (NASDAQ:IAC) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,054 shares of the company’s stock after acquiring an additional 5,916 shares during the period. State of New Jersey Common Pension Fund D owned about 0.05% of IAC worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of IAC by 1,193.4% in the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock worth $139,000 after purchasing an additional 3,079 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of IAC by 1.4% in the fourth quarter. Rhumbline Advisers now owns 181,325 shares of the company’s stock worth $7,822,000 after acquiring an additional 2,563 shares during the period. Entropy Technologies LP grew its position in shares of IAC by 225.1% during the fourth quarter. Entropy Technologies LP now owns 20,447 shares of the company’s stock worth $882,000 after purchasing an additional 14,158 shares in the last quarter. Empowered Funds LLC bought a new position in shares of IAC during the fourth quarter worth $316,000. Finally, Joel Isaacson & Co. LLC lifted its position in shares of IAC by 553.6% in the fourth quarter. Joel Isaacson & Co. LLC now owns 424,238 shares of the company’s stock worth $18,302,000 after buying an additional 359,327 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

IAC Price Performance

IAC stock opened at $46.24 on Tuesday. IAC Inc. has a 52-week low of $39.61 and a 52-week high of $58.29. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -7.09 and a beta of 1.32. The business has a fifty day moving average of $43.12 and a two-hundred day moving average of $48.07. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Oppenheimer lowered their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Benchmark reduced their price objective on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group dropped their price objective on shares of IAC from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. KeyCorp raised their price objective on IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Barclays reduced their target price on shares of IAC from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.67.

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.