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

Teacher Retirement System of Texas raised its position in IAC Inc. (NASDAQ:IAC) by 1,066.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,515 shares of the company’s stock after purchasing an additional 72,701 shares during the quarter. Teacher Retirement System of Texas’ holdings in IAC were worth $3,430,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IAC. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of IAC during the fourth quarter worth about $41,000. Quarry LP grew its holdings in IAC by 408.9% during the 3rd quarter. Quarry LP now owns 977 shares of the company’s stock worth $53,000 after acquiring an additional 785 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in IAC by 1,398.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,053 shares of the company’s stock valued at $89,000 after acquiring an additional 1,916 shares during the period. Allworth Financial LP raised its stake in shares of IAC by 1,193.4% during the fourth quarter. Allworth Financial LP now owns 3,337 shares of the company’s stock valued at $139,000 after acquiring an additional 3,079 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of IAC by 22.8% during the fourth quarter. KBC Group NV now owns 3,278 shares of the company’s stock worth $141,000 after purchasing an additional 608 shares during the period. 88.90% of the stock is currently owned by institutional investors.

IAC Price Performance

IAC stock opened at $50.00 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.80 and a quick ratio of 2.75. The company’s 50-day moving average is $44.42 and its 200-day moving average is $47.29. The stock has a market capitalization of $3.87 billion, a PE ratio of -7.67 and a beta of 1.29. IAC Inc. has a 1 year low of $39.61 and a 1 year high of $58.29.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IAC shares. Piper Sandler downgraded IAC from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $68.00 to $54.00 in a report on Tuesday, December 10th. JPMorgan Chase & Co. restated an “overweight” rating and set a $60.00 price objective on shares of IAC in a research report on Friday. Benchmark cut their price objective on IAC from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their target price on shares of IAC from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer dropped their price target on shares of IAC from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.31.

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.