Teacher Retirement System of Texas Acquires 72,701 Shares of IAC Inc. (NASDAQ:IAC)

Teacher Retirement System of Texas lifted its holdings in shares of IAC Inc. (NASDAQ:IAC) by 1,066.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,515 shares of the company’s stock after acquiring an additional 72,701 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.10% of IAC worth $3,430,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Brooktree Capital Management grew its stake in IAC by 6.9% in the 4th quarter. Brooktree Capital Management now owns 177,268 shares of the company’s stock valued at $7,647,000 after buying an additional 11,425 shares during the last quarter. Applied Fundamental Research LLC grew its position in shares of IAC by 12.1% in the fourth quarter. Applied Fundamental Research LLC now owns 416,194 shares of the company’s stock valued at $17,955,000 after purchasing an additional 44,835 shares during the last quarter. Royce & Associates LP increased its stake in shares of IAC by 9.0% during the fourth quarter. Royce & Associates LP now owns 303,849 shares of the company’s stock worth $13,108,000 after purchasing an additional 25,170 shares during the period. Monimus Capital Management LP bought a new stake in IAC in the 4th quarter valued at $1,699,000. Finally, Commonwealth Equity Services LLC boosted its stake in IAC by 2.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,532 shares of the company’s stock valued at $497,000 after purchasing an additional 320 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JMP Securities lowered their price target on shares of IAC from $70.00 to $64.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. KeyCorp boosted their price objective on shares of IAC from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Oppenheimer lowered their target price on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler cut IAC from an “overweight” rating to a “neutral” rating and cut their price target for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IAC presently has a consensus rating of “Moderate Buy” and an average price target of $64.31.

IAC Stock Performance

IAC stock opened at $50.00 on Tuesday. The company has a quick ratio of 2.75, a current ratio of 2.80 and a debt-to-equity ratio of 0.31. The stock has a market cap of $3.87 billion, a PE ratio of -7.67 and a beta of 1.29. IAC Inc. has a 12-month low of $39.61 and a 12-month high of $58.29. The business’s 50-day moving average price is $44.42 and its two-hundred day moving average price is $47.29.

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.