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

Principal Financial Group Inc. lessened its position in shares of IAC Inc. (NASDAQ:IAC) by 3.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 333,141 shares of the company’s stock after selling 10,288 shares during the period. Principal Financial Group Inc.’s holdings in IAC were worth $17,930,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. DME Capital Management LP acquired a new stake in shares of IAC during the 2nd quarter worth about $13,655,000. Bank of New York Mellon Corp raised its holdings in IAC by 113.4% during the second quarter. Bank of New York Mellon Corp now owns 531,296 shares of the company’s stock worth $24,891,000 after purchasing an additional 282,304 shares in the last quarter. Swedbank AB purchased a new stake in shares of IAC during the 1st quarter worth approximately $11,460,000. Public Sector Pension Investment Board acquired a new position in shares of IAC in the 2nd quarter valued at $7,200,000. Finally, Whitebox Advisors LLC grew its position in shares of IAC by 9.5% in the 1st quarter. Whitebox Advisors LLC now owns 1,402,554 shares of the company’s stock valued at $74,812,000 after buying an additional 121,664 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IAC has been the subject of a number of research reports. Barclays reduced their price target on shares of IAC from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie reissued an “outperform” rating and issued a $14.00 target price on shares of IAC in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $110.00 price target on shares of IAC in a research report on Tuesday. Citigroup decreased their price objective on IAC from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen lowered their target price on shares of IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $70.91.

IAC Price Performance

IAC stock opened at $46.98 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 2.68. The business has a 50 day simple moving average of $52.13 and a 200-day simple moving average of $50.91. IAC Inc. has a 12 month low of $43.51 and a 12 month high of $58.29. The stock has a market capitalization of $3.77 billion, a PE ratio of -110.02 and a beta of 1.33.

IAC (NASDAQ:IAC) last announced its quarterly earnings data on Monday, November 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $938.70 million during the quarter, compared to analyst estimates of $922.62 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The business’s quarterly revenue was down 15.5% compared to the same quarter last year. Equities analysts predict that IAC Inc. will post -0.79 earnings per share for the current year.

IAC Company 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.