New Jersey Pension Fund Slashes Holdings in IAC by 26% in Second Quarter
September 26, 2024
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IAC ($NASDAQ:IAC) Inc., also known as InterActiveCorp, is an American holding company that owns various internet and media brands, including Match Group, Vimeo, and Angie’s List. In the second quarter of this year, the State of New Jersey Common Pension Fund D made headlines by announcing a significant reduction in its holdings of IAC Inc. The pension fund, which manages retirement assets for public employees in New Jersey, disclosed that it had slashed its investments in IAC by 26.0%. This move came as a surprise to many investors, as the fund had previously held a significant stake in the company. The reduction in holdings by the New Jersey Pension Fund is noteworthy, as it represents a significant decrease in confidence in IAC Inc. from one of its major investors. This move may be seen as a reflection of the pension fund’s concerns about the company’s future performance and potential risks. It is also possible that the fund chose to reallocate its investments to other companies with more promising growth potential. The news of the pension fund’s reduction in holdings caused a slight dip in IAC Inc.’s stock price but did not have a significant impact on its overall performance.
However, the market may react more strongly if other major investors follow in the footsteps of the New Jersey Pension Fund and also choose to reduce their holdings in IAC Inc. This development highlights the potential impact that major institutional investors can have on a company’s stock price and overall performance. It also serves as a reminder to investors to carefully monitor any changes in holdings by large investment funds, as it could signal a shift in sentiment towards a particular stock or company. In conclusion, the New Jersey Pension Fund’s decision to reduce its investments in IAC Inc. by a significant margin has raised questions about the company’s future prospects and potential challenges. It will be interesting to see if other major investors follow suit, and how this may impact IAC Inc. in the coming months.
Analysis
After analyzing the financials of IAC INC, I can conclude that this company falls under the category of ‘rhino’ on the Star Chart. This means that it has achieved moderate revenue or earnings growth. This is a positive sign for potential investors, as it indicates that the company has been able to maintain steady growth over time. Based on this assessment, I believe that investors who are looking for moderate growth potential and stability in their investment may be interested in IAC INC. While it may not offer high returns in a short period of time, it appears to be a reliable and consistent company in terms of its financial performance. In terms of its financial health, IAC INC scores a high 7 out of 10. This indicates that the company’s cashflows and debt are well-managed, and it is capable of sustaining its future operations even during times of crisis. This is an important factor for investors to consider, as a company with a high health score is less likely to face financial difficulties and is considered a safer investment option. In terms of specific financial metrics, IAC INC is strong in asset and profitability, which are key indicators of a company’s financial stability and success. However, it is only moderate in terms of growth potential, which may be due to its more conservative approach to expansion. Additionally, it has a weaker dividend score, which means that it may not provide high dividend payouts to its investors. In conclusion, IAC INC appears to be a promising investment opportunity for those seeking moderate growth potential and a stable financial performance. Its high health score and strong asset and profitability metrics make it an attractive option for investors looking for a reliable and well-managed company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Iac Inc. More…
| Total Revenues | Net Income | Net Margin |
| 4.37k | 265.94 | -5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iac Inc. More…
| Operations | Investing | Financing |
| 189.53 | -87.47 | -223.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Iac Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.37k | 3.58k | 70.8 |
Key Ratios Snapshot
Some of the financial key ratios for Iac Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.7% | – | 12.0% |
| FCF Margin | ROE | ROA |
| 1.1% | 5.6% | 3.2% |
Peers
IAC/InterActiveCorp is headquartered in New York City.
– Angi Inc ($NASDAQ:ANGI)
As of 2022, Angi Inc’s market cap is 971.35M and its ROE is -5.81%. Angi Inc is a provider of home services that connects consumers with service professionals. The company operates in two segments: HomeAdvisor and Angie’s List. Its HomeAdvisor segment offers a digital marketplace that connects consumers with service professionals for home repair, maintenance, and improvement projects. The Angie’s List segment offers a membership-based website and app that provides consumers with reviews of local service providers.
– Match Group Inc ($NASDAQ:MTCH)
Match Group Inc is an American Internet company that owns and operates several online dating websites and apps. The company has a market cap of 12.02B as of 2022 and a return on equity of -41.93%. Match Group Inc was founded in 1995 and is headquartered in Dallas, Texas. The company offers a variety of online dating services and apps, including Tinder, Hinge, OkCupid, PlentyOfFish, and Match.com.
– InfoSearch Media Inc ($OTCPK:ISHM)
Media Inc has a market cap of 52.49k as of 2022. The company is a provider of information and analysis on the media industry, including traditional and digital media companies.
Summary
The State of New Jersey Common Pension Fund D has reduced its stake in IAC Inc. by 26.0% during the second quarter. This move indicates a possible shift in their investment strategy. IAC Inc. is a company that operates a range of businesses in the media, internet, and entertainment industries. The reduction in holdings could be a result of their analysis of the company’s performance and future prospects.
This decision by a major investor could impact the stock’s value and potentially prompt other investors to re-evaluate their positions. It will be interesting to see how this development affects the company’s financials and market performance in the coming months.
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