Investor Cuts $12.9 Million Stake as IAS Heads Toward $1.9 Billion Buyout | The Motley Fool

"According to a filing with the Securities and Exchange Commission dated November 14, Ararat Capital Management LP sold nearly 1.5 million shares of Integral Ad Science Holding Corp. in the third quarter. The estimated transaction value is $12.9 million based on quarterly average pricing. After the trade, the fund retains 668,407 shares worth $6.8 million and accounting for 3.6% of its 13F AUM. The fund reported 20 total positions as of quarter-end."

"Integral Ad Science provides digital advertising verification solutions, including fraud detection, viewability measurement, brand safety, contextual targeting, and performance reporting across desktop, mobile, connected TV, and social platforms. The company operates a cloud-based platform (IAS Signal) that offers independent measurement, verification, and optimization services to advertisers and publishers. It serves advertisers, agencies, publishers, ad networks, and supply-side platforms globally, with a focus on digital media quality and brand safety."

"Top five holdings after the filing: NYSE:BY: $18.8 million (10.1% of AUM) NASDAQ:LZ: $17.8 million (9.5% of AUM) NASDAQ:DRVN: $17.7 million (9.5% of AUM) NYSE:PLOW: $13.6 million (7.3% of AUM) NYSE:GIL: $12.6 million (6.7% of AUM) As of Thursday, IAS shares were priced at $10.27, down 7.5% over the past year and well underperforming the S&P 500, which is up nearly 13% in the same period."

Ararat Capital Management sold nearly 1.5 million shares of Integral Ad Science in the third quarter, an estimated $12.9 million in transactions based on quarterly average pricing. After the sale the fund retained 668,407 shares worth $6.8 million, representing 3.6% of its 13F assets under management, and reported 20 total positions at quarter-end. The reduction coincided with Integral Ad Science agreeing to a $1.9 billion cash buyout. Top five fund holdings included BY, LZ, DRVN, PLOW and GIL. IAS shares traded at $10.27, down 7.5% over the past year while the S&P 500 rose about 13%.

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