Mutual of America Capital Management LLC Reduces Position in IAC Inc. (NASDAQ:IAC)

Mutual of America Capital Management LLC trimmed its stake in IAC Inc. (NASDAQ:IAC) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,633 shares of the company’s stock after selling 851 shares during the period. Mutual of America Capital Management LLC’s holdings in IAC were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IAC. Principal Financial Group Inc. boosted its position in shares of IAC by 5,474.2% in the second quarter. Principal Financial Group Inc. now owns 343,429 shares of the company’s stock worth $16,090,000 after purchasing an additional 337,268 shares during the period. DME Capital Management LP purchased a new position in shares of IAC during the 2nd quarter valued at $13,655,000. Bank of New York Mellon Corp boosted its holdings in IAC by 113.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after buying an additional 282,304 shares during the period. Swedbank AB purchased a new stake in IAC in the 1st quarter worth $11,460,000. Finally, Public Sector Pension Investment Board bought a new stake in IAC during the second quarter valued at about $7,200,000. 88.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IAC shares. TD Cowen dropped their price objective on IAC from $82.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. UBS Group raised IAC to a “hold” rating in a report on Monday, October 28th. Truist Financial cut their price objective on shares of IAC from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. Finally, Barclays dropped their target price on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.36.

IAC Price Performance

IAC stock opened at $47.76 on Wednesday. IAC Inc. has a 52 week low of $43.51 and a 52 week high of $58.29. The firm has a market capitalization of $3.84 billion, a P/E ratio of -111.07 and a beta of 1.33. The company has a fifty day simple moving average of $51.47 and a two-hundred day simple moving average of $50.55. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

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

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.