Wed Sep 25 07:53:16 UTC 2024: ## New Jersey Pension Fund Trims IAC Holdings, While Other Investors Buy In

**[City, State] – September 25, 2024** – The State of New Jersey Common Pension Fund D has trimmed its position in IAC Inc. (NASDAQ:IAC) by 26% in the second quarter, according to recent SEC filings. The fund now owns 38,427 shares of the media and internet company, valued at $1.8 million.

This move comes as other investors are showing increased interest in IAC. Several institutional investors, including Riverview Trust Co, International Assets Investment Management LLC, CWM LLC, 1620 Investment Advisors Inc., and Geneos Wealth Management Inc., have purchased new stakes in the company in recent quarters.

Overall, 88.9% of IAC shares are owned by hedge funds and institutional investors.

IAC stock opened at $54.04 on Wednesday, with a market cap of $4.34 billion. The company has a PE ratio of -34.20 and a beta of 1.32.

Analysts remain bullish on IAC, with several reiterating “buy” ratings and setting price targets ranging from $66.00 to $110.00. According to MarketBeat.com, IAC currently has a consensus rating of “Moderate Buy” and an average price target of $76.40.

While the New Jersey pension fund’s decision to reduce its stake might raise some eyebrows, the overall trend of institutional investment in IAC suggests continued confidence in the company’s long-term prospects.

**About IAC:**

IAC Inc. is a global media and internet company that operates in various sectors including entertainment, food, home, beauty, travel, health, family, luxury, and fashion. The company produces original digital content and also publishes lifestyle magazines.

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