Intrepid Capital Management Inc. Makes New Investment in IAA (NYSE:IAA)

Intrepid Capital Management Inc. purchased a new position in IAA (NYSE:IAA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 97,055 shares of the company’s stock, valued at approximately $3,764,000. IAA makes up about 1.7% of Intrepid Capital Management Inc.’s holdings, making the stock its 26th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of IAA. Advisor Group Inc. purchased a new position in shares of IAA in the second quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of IAA in the second quarter worth $33,000. FTB Advisors Inc. purchased a new position in shares of IAA in the second quarter worth $34,000. Crewe Advisors LLC purchased a new position in shares of IAA in the second quarter worth $34,000. Finally, Cornerstone Advisors Inc. purchased a new position in shares of IAA in the second quarter worth $35,000. 93.82% of the stock is owned by institutional investors and hedge funds.

Shares of IAA stock opened at $45.56 on Friday. The business’s fifty day simple moving average is $46.81. IAA has a 1 year low of $38.08 and a 1 year high of $49.96.

IAA (NYSE:IAA) last issued its earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The business had revenue of $366.40 million for the quarter, compared to analysts’ expectations of $357.90 million. During the same period last year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts forecast that IAA will post 1.6 EPS for the current year.

A number of research firms have issued reports on IAA. Wolfe Research initiated coverage on shares of IAA in a report on Friday, July 12th. They issued an “outperform” rating for the company. Northcoast Research reissued a “neutral” rating on shares of IAA in a report on Monday, July 1st. CJS Securities cut shares of IAA from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 14th. SunTrust Banks reissued a “buy” rating and set a $53.00 target price on shares of IAA in a report on Wednesday, August 14th. Finally, Robert W. Baird initiated coverage on shares of IAA in a report on Friday, June 28th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $49.67.

About IAA

IAA, Inc provides salvage vehicle auctions and related services. It offers salvage auction services, such as inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The company's salvage auctions facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, charity donation vehicles, recovered stolen (or theft) vehicles, and low value used vehicles through live and online auctions.

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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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