Professional
Added to YB: 2020-07-01
Pitch date: 2020-07-01
IAC [bullish]
IAC Inc.
-30.69%
current return
Author Info
Greenhaven Road is a boutique hedge fund with the patience and confidence to step outside of the norm. Visit their website.
Company Info
IAC Inc., together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images; and magazines related to women and lifestyle under the media platforms and formats, such as People, Entertainment Weekly, People en Español, Allrecipes, Food & Wine, Simply Recipes, Serious Eats, EatingWell, The Spruce Eats, Liquor.
Market Cap
$3.4B
Pitch Price
$59.40
Price Target
150.00 (+264%)
Dividend
N/A
EV/EBITDA
14.33
P/E
-29.57
EV/Sales
1.72
Sector
Interactive Media and Services
Category
special_situation
Greenhaven Road New Position - IAC Holding ($IAC)
IAC: Post-Match spinoff, Barry Diller-led conglomerate holds $45/share cash, $65 ANGI stake, $6 Care.com at cost. Also owns Vimeo (1.3M subs), Dotdash (90M users), Applications (155 extensions, 25-100M users across brands like Apalon, iTranslate). $250M Turo investment provides optionality. Trades near cash & stakes value, implying little for other assets. Diller's capital allocation record + cash hoard provides downside support & upside potential.
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