Solaris Asset Management Lowers stake in IAC/InterActiveCorp (IAC)

IAC/InterActiveCorp (IAC) : Solaris Asset Management reduced its stake in IAC/InterActiveCorp by 15.29% during the most recent quarter end. The investment management company now holds a total of 44,185 shares of IAC/InterActiveCorp which is valued at $2,644,030 after selling 7,975 shares in IAC/InterActiveCorp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.IAC/InterActiveCorp makes up approximately 1.88% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Calamos Advisors sold out all of its stake in IAC during the most recent quarter. The investment firm sold 13,222 shares of IAC which is valued $791,204.Ibm Retirement Fund reduced its stake in IAC by selling 259 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 7,107 shares of IAC which is valued at $427,415. IAC/InterActiveCorp makes up approx 0.02% of Ibm Retirement Fund’s portfolio. Crestpoint Capital Management added IAC to its portfolio by purchasing 3,900 company shares during the most recent quarter which is valued at $230,919. IAC/InterActiveCorp makes up approx 0.12% of Crestpoint Capital Management’s portfolio.

On the company’s financial health, IAC/InterActiveCorp reported $0.42 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.50. The company had revenue of $745.40 million for the quarter, compared to analysts expectations of $748.35 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.85 EPS.

Many Wall Street Analysts have commented on IAC/InterActiveCorp. IAC/InterActiveCorp was Downgraded by Stifel to ” Hold” on May 5, 2016.

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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