Filings Worth Watching: Iac Interactivecorp (IACI) Shares Were Volatile While Cadian Capital Management LP Cut Its Position

Filings Worth Watching: Iac Interactivecorp (IACI) Shares Were Volatile While Cadian Capital Management LP Cut Its Position

Eric Bannasch decreased its stake in Iac Interactivecorp (IACI) by 24.8% based on its latest 2016Q3 regulatory filing with the SEC. Cadian Capital Management Lp sold 554,354 shares as the company’s stock 0.00% . The hedge fund run by Eric Bannasch held 1.68M shares of the other specialty stores company at the end of 2016Q3, valued at $105.01 million, down from 2.24M at the end of the previous reported quarter. Cadian Capital Management Lp who had been investing in Iac Interactivecorp for a number of months, seems to be less bullish one the $5.55B market cap company. The stock closed at $69.91 during the last session. It is down 6.00% since December 12, 2016 and is uptrending. It has underperformed by 1.42% the S&P500.

Cadian Capital Management Lp, which manages about $5.56B and $1.90 billion US Long portfolio, upped its stake in K2m Group Hldgs Inc (NASDAQ:KTWO) by 204,311 shares to 754,252 shares, valued at $13.41 million in 2016Q3, according to the filing. It also increased its holding in Biogen Inc (NASDAQ:BIIB) by 60,000 shares in the quarter, for a total of 125,000 shares, and has risen its stake in Liberty Broadband Corp.

Cadian Capital focuses on technology, media, and telecommunications funds. It brought in an annualized return of 11.95% between the time it was formed in October 2007 and January 2012. It posted a standard deviation a little on the high side during that period at 17.75%. Cadian Capital has posted the following statistics: down 9.2% in 2008, a return in 2009 of 25.65%, 2010 returning 25.78%, and 2011 posting a return of 0.53%. Cadian Capital was founded by Eric Bannassh, who formerly worked as a portfolio manager at Richard Perry’s Perry Capital. Bannasch supports a longer term approach to investing when dealing with small and mid-cap companies. He holds an MBA from Stanford that he earned in 2003.

Insitutional Activity: The institutional sentiment decreased to 0.61 in 2016 Q3. Its down 0.25, from 0.86 in 2016Q2. The ratio is negative, as 42 funds sold all IACI shares owned while 111 reduced positions. 28 funds bought stakes while 66 increased positions. They now own 65.07 million shares or 0.12% more from 65.00 million shares in 2016Q2. Advisors Asset Management accumulated 6,928 shares or 0.01% of the stock. Geode Capital Mgmt Ltd Co owns 528,523 shares or 0.02% of their US portfolio. Cap accumulated 716,000 shares or 0.06% of the stock. Glenmede Tru Co Na owns 119 shares or 0% of their US portfolio. Polar Cap Llp holds 53,518 shares or 0.06% of its portfolio. The Japan-based Blackrock Japan has invested 0% in IAC InterActiveCorp (NASDAQ:IAC). Appleton Prtn Ma holds 0.04% of its portfolio in IAC InterActiveCorp (NASDAQ:IAC) for 3,772 shares. Aviva Pcl holds 0.03% of its portfolio in IAC InterActiveCorp (NASDAQ:IAC) for 79,022 shares. Ahl Prtn Ltd Liability Partnership has invested 0.01% of its portfolio in IAC InterActiveCorp (NASDAQ:IAC). Cwm Limited Liability Corporation last reported 0% of its portfolio in the stock. Canada Pension Plan Inv Board has invested 0.36% of its portfolio in IAC InterActiveCorp (NASDAQ:IAC). Brave Asset Management holds 0% of its portfolio in IAC InterActiveCorp (NASDAQ:IAC) for 50 shares. Ellington Mngmt Grp Inc Llc has 11,000 shares for 0.19% of their US portfolio. Guggenheim Cap last reported 0% of its portfolio in the stock. Creative Planning accumulated 1,532 shares or 0% of the stock.

Analysts await IAC InterActiveCorp (NASDAQ:IAC) to report earnings on February, 7. They expect $0.82 earnings per share, up 15.49% or $0.11 from last year’s $0.71 per share. IAC’s profit will be $65.10 million for 21.31 P/E if the $0.82 EPS becomes a reality. After $0.59 actual earnings per share reported by IAC InterActiveCorp for the previous quarter, Wall Street now forecasts 38.98% EPS growth.

More notable recent IAC InterActiveCorp (NASDAQ:IAC) news were published by: Streetinsider.com which released: “Credit Suisse Initiates IAC/InterActiveCorp (IAC) to Outperform” on January 11, 2017, also Prnewswire.com with their article: “Class Action Lawsuit Alleges RICO Violations By IAC/InteractiveCorp (NASDAQ …” published on November 17, 2016, Crainsnewyork.com published: “IAC/InterActiveCorp. spins off media and search properties into IAC Publishing …” on December 09, 2015. More interesting news about IAC InterActiveCorp (NASDAQ:IAC) were released by: Reuters.com and their article: “CORRECTED-IAC/InterActiveCorp to make another bid for Angie’s List – NY Po…” published on February 03, 2016 as well as Seekingalpha.com‘s news article titled: “IAC/InterActiveCorp: More Than Meets The Eye” with publication date: July 01, 2016.

According to Zacks Investment Research, “IAC is a leading media and Internet company. It is organized into four segments: The Match Group, which consists of dating, education and fitness businesses with brands such as Match.com, OkCupid, Tinder, The Princeton Review and DailyBurn; Search & Applications, which includes brands such as About.com, Ask.com, Dictionary.com and Investopedia; Media, which consists of businesses such as Vimeo, Electus, The Daily Beast and CollegeHumor; and eCommerce, which includes HomeAdvisor and ShoeBuy. IAC’s brands and products are among the most recognized in the world reaching users in over 200 countries. The Company is headquartered in New York City and has offices worldwide.”

IAC InterActiveCorp (NASDAQ:IAC) Ratings Coverage

Out of 5 analysts covering InterActiveCorp (NASDAQ:IACI), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. InterActiveCorp has been the topic of 14 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was initiated on Tuesday, October 13 by Guggenheim. The rating was maintained by Benchmark on Wednesday, July 29 with “Buy”. Needham maintained the shares of IACI in a report on Friday, November 20 with “Buy” rating. UBS maintained it with “Buy” rating and $85.0 target price in Friday, August 14 report. The stock of IAC InterActiveCorp (NASDAQ:IAC) has “Sector Perform” rating given on Wednesday, October 28 by RBC Capital Markets. The stock has “Buy” rating given by Axiom Capital on Tuesday, January 12. The firm has “Buy” rating given on Wednesday, October 28 by Needham. Susquehanna initiated the shares of IACI in a report on Monday, January 18 with “Positive” rating. The stock has “Buy” rating given by Benchmark on Saturday, August 22. The stock of IAC InterActiveCorp (NASDAQ:IAC) earned “Buy” rating by Axiom Capital on Tuesday, September 22.

IAC Company Profile

IAC/InterActiveCorp (IAC), incorporated on July 28, 1986, is a media and Internet company. The Company’s brands and products include HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid, Tinder and PlentyOfFish. The Firm operates through six divisions: Match Group, HomeAdvisor, Publishing, Applications, Video and Other.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Reply

Be the First to Comment!

Notify of
avatar

wpDiscuz