ARK Investment Management LLC Increases Stock Position in ironSource Ltd. (NYSE:IS)

ARK Investment Management LLC lifted its holdings in ironSource Ltd. (NYSE:ISGet Rating) by 33.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 516,478 shares of the company’s stock after purchasing an additional 128,438 shares during the period. ARK Investment Management LLC owned about 0.05% of ironSource worth $1,493,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Weiss Multi Strategy Advisers LLC lifted its position in shares of ironSource by 117.3% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 3,477,487 shares of the company’s stock worth $16,692,000 after purchasing an additional 1,877,487 shares during the period. Virtu Financial LLC raised its stake in shares of ironSource by 164.3% during the 1st quarter. Virtu Financial LLC now owns 73,960 shares of the company’s stock worth $355,000 after acquiring an additional 45,973 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of ironSource by 115.7% during the 1st quarter. Advisors Asset Management Inc. now owns 22,646 shares of the company’s stock worth $109,000 after acquiring an additional 12,146 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of ironSource by 142.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,663,852 shares of the company’s stock worth $27,186,000 after acquiring an additional 3,325,759 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of ironSource by 1,118.6% during the 1st quarter. Quantbot Technologies LP now owns 216,018 shares of the company’s stock worth $1,036,000 after acquiring an additional 198,291 shares in the last quarter. Hedge funds and other institutional investors own 22.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of ironSource from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $5.00 to $4.00 in a research note on Thursday, July 14th. KeyCorp assumed coverage on shares of ironSource in a research note on Thursday, June 30th. They set an “overweight” rating and a $3.50 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of ironSource in a research note on Thursday, July 14th. Credit Suisse Group lowered shares of ironSource from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $5.42 in a research note on Thursday, August 11th. Finally, Wolfe Research assumed coverage on shares of ironSource in a research note on Tuesday, August 16th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.80.

ironSource Price Performance

NYSE:IS opened at $3.96 on Tuesday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 66.01, a PEG ratio of 0.79 and a beta of 1.97. ironSource Ltd. has a 1-year low of $2.20 and a 1-year high of $13.14. The company’s fifty day moving average price is $4.01 and its 200-day moving average price is $3.78.

ironSource (NYSE:ISGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $182.79 million for the quarter, compared to analyst estimates of $183.46 million. ironSource had a net margin of 9.84% and a return on equity of 10.77%. Equities analysts anticipate that ironSource Ltd. will post 0.12 EPS for the current fiscal year.

About ironSource

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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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Institutional Ownership by Quarter for ironSource (NYSE:IS)

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