Cadian Capital Management Lp Lowers stake in IAC/InterActiveCorp (IAC)

IAC/InterActiveCorp (IAC) : Cadian Capital Management Lp reduced its stake in IAC/InterActiveCorp by 38.62% during the most recent quarter end. The investment management company now holds a total of 1,507,407 shares of IAC/InterActiveCorp which is valued at $82 Million after selling 948,605 shares in IAC/InterActiveCorp , the firm said in a disclosure report filed with the SEC on May 13, 2016.IAC/InterActiveCorp makes up approximately 5.32% of Cadian Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Hsbc Holdings Plc reduced its stake in IAC by selling 89,972 shares or 89.06% in the most recent quarter. The Hedge Fund company now holds 11,053 shares of IAC which is valued at $601,062.1832 Asset Management reduced its stake in IAC by selling 369 shares or 11.03% in the most recent quarter. The Hedge Fund company now holds 2,976 shares of IAC which is valued at $161,835.Palisade Capital Managementnj reduced its stake in IAC by selling 500 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 57,450 shares of IAC which is valued at $3.1 Million. IAC/InterActiveCorp makes up approx 0.12% of Palisade Capital Managementnj’s portfolio. Nine Chapters Capital Management added IAC to its portfolio by purchasing 41,200 company shares during the most recent quarter which is valued at $2.2 Million. IAC/InterActiveCorp makes up approx 0.20% of Nine Chapters Capital Management’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in IAC in the latest quarter, The investment management firm added 450 additional shares and now holds a total of 88,124 shares of IAC/InterActiveCorp which is valued at $4.7 Million. IAC/InterActiveCorp makes up approx 0.02% of State Board Of Administration Of Florida Retirement System’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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