ARK Investment Management LLC raised its stake in shares of ironSource Ltd. (NYSE:IS – Get Rating) by 33.1% in the second quarter, Holdings Channel.com reports. The fund owned 516,478 shares of the company’s stock after purchasing an additional 128,438 shares during the period. ARK Investment Management LLC’s holdings in ironSource were worth $1,493,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its stake in shares of ironSource by 22.7% in the fourth quarter. Capital World Investors now owns 29,015,512 shares of the company’s stock valued at $224,580,000 after purchasing an additional 5,371,195 shares during the period. Glenview Capital Management LLC boosted its stake in shares of ironSource by 256.3% in the first quarter. Glenview Capital Management LLC now owns 7,010,415 shares of the company’s stock valued at $33,650,000 after purchasing an additional 5,042,747 shares during the period. Phoenix Holdings Ltd. boosted its stake in shares of ironSource by 115.7% in the first quarter. Phoenix Holdings Ltd. now owns 7,503,603 shares of the company’s stock valued at $36,098,000 after purchasing an additional 4,025,522 shares during the period. Baupost Group LLC MA boosted its stake in shares of ironSource by 98.4% in the first quarter. Baupost Group LLC MA now owns 7,936,988 shares of the company’s stock valued at $38,098,000 after purchasing an additional 3,936,988 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of ironSource by 142.2% in the first quarter. Alyeska Investment Group L.P. now owns 5,663,852 shares of the company’s stock valued at $27,186,000 after purchasing an additional 3,325,759 shares during the period. 22.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on IS. Needham & Company LLC reissued a “hold” rating on shares of ironSource in a research note on Thursday, July 14th. Jefferies Financial Group decreased their price target on shares of ironSource from $6.00 to $5.00 in a research note on Thursday, June 16th. DA Davidson set a $6.30 price target on shares of ironSource in a research note on Tuesday, July 19th. Morgan Stanley decreased their price target on shares of ironSource from $5.00 to $4.75 and set an “overweight” rating for the company in a research note on Monday, June 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of ironSource from a “buy” rating to a “hold” rating and decreased their price target for the stock from $5.00 to $4.00 in a research note on Thursday, July 14th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ironSource has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.
ironSource Trading Up 4.5 %
ironSource (NYSE:IS – Get Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $182.79 million during the quarter, compared to the consensus estimate of $183.46 million. ironSource had a net margin of 9.84% and a return on equity of 10.77%. As a group, equities research analysts predict that ironSource Ltd. will post 0.12 EPS for the current fiscal year.
ironSource Company Profile
ironSource Ltd. operates a business platform for app developers and telecom operators in Israel and internationally. The company's platforms include Sonic solution suite that supports developers to launch, monetize, and scale their apps and games by providing solutions for app discovery, user growth, content monetization, analytics, and publishing; and Aura solution suite, which allows telecom operators to enrich the device experience by creating new engagement touchpoints that deliver relevant content for their users across the entire lifecycle of the device.
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