Herring Creek Capital Management buys $23.5 Million stake in IAC/InterActiveCorp (IAC)

IAC/InterActiveCorp (IAC) : Herring Creek Capital Management scooped up 135,108 additional shares in IAC/InterActiveCorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 431,653 shares of IAC/InterActiveCorp which is valued at $23.5 Million.IAC/InterActiveCorp makes up approximately 6.20% of Herring Creek Capital Management’s portfolio.

Other Hedge Funds, Including , Mackenzie Financial Corp reduced its stake in IAC by selling 313 shares or 4.45% in the most recent quarter. The Hedge Fund company now holds 6,723 shares of IAC which is valued at $365,597.Tt International boosted its stake in IAC in the latest quarter, The investment management firm added 21,470 additional shares and now holds a total of 67,814 shares of IAC/InterActiveCorp which is valued at $3.7 Million. IAC/InterActiveCorp makes up approx 1.49% of Tt International’s portfolio.Numeric Investors boosted its stake in IAC in the latest quarter, The investment management firm added 75,600 additional shares and now holds a total of 107,700 shares of IAC/InterActiveCorp which is valued at $5.8 Million. IAC/InterActiveCorp makes up approx 0.06% of Numeric Investors’s portfolio.

On the company’s financial health, IAC/InterActiveCorp reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.34. The company had revenue of $819.20 million for the quarter, compared to analysts expectations of $806.30 million. The company’s revenue was up 6.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on IAC/InterActiveCorp. IAC/InterActiveCorp was Downgraded by Stifel to ” Hold” on May 5, 2016. IAC/InterActiveCorp was Resumed by BofA/Merrill to “Buy” on Feb 29, 2016. Shares were Reiterated by Axiom Capital on Feb 17, 2016 to “Buy” and Lowered the Price Target to $ 74 from a previous price target of $84 .

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company operates through four segments: Search & Applications, The Match Group, Media and eCommerce. The Search & Applications segment consists of: Websites through, which the Company provides search services, content and other services, and applicationsluding its direct-to-consumer downloadable applications operations (B2C), partnership operations (B2B), SlimWare and Apalon. The Match Group segment consists of its North America dating businesses, International dating businesses and non-dating businesses. The Media segment consists of Vimeo, which offers video creators tools; Electus, a multimedia entertainment studio, and The Daily Beast, a Website dedicated to news, commentary, culture and entertainment. The eCommerce segment consists of HomeAdvisor, an online marketplace for matching consumers with home services professionals, and ShoeBuy, an Internet retailer of footwear and related apparel and accessories.

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