Shannon River Fund Management buys $43,933,800 stake in IAC/InterActiveCorp (IAC)

IAC/InterActiveCorp (IAC) : Shannon River Fund Management scooped up 521,000 additional shares in IAC/InterActiveCorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 740,000 shares of IAC/InterActiveCorp which is valued at $43,933,800.IAC/InterActiveCorp makes up approximately 9.94% of Shannon River Fund Management’s portfolio.

Other Hedge Funds, Including , Piermont Capital Management boosted its stake in IAC in the latest quarter, The investment management firm added 8,190 additional shares and now holds a total of 12,530 shares of IAC/InterActiveCorp which is valued at $743,906. IAC/InterActiveCorp makes up approx 0.18% of Piermont Capital Management’s portfolio. Clinton Group Inc sold out all of its stake in IAC during the most recent quarter. The investment firm sold 73,196 shares of IAC which is valued $4,345,647. Secor Capital Advisors Lp sold out all of its stake in IAC during the most recent quarter. The investment firm sold 20,741 shares of IAC which is valued $1,238,653.

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.

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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