Guardian Capital LP lowered its position in shares of IAA, Inc. (NYSE:IAA – Get Rating) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,965 shares of the company’s stock after selling 285 shares during the quarter. Guardian Capital LP’s holdings in IAA were worth $523,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in IAA. SG Americas Securities LLC raised its holdings in shares of IAA by 9.4% during the first quarter. SG Americas Securities LLC now owns 33,082 shares of the company’s stock valued at $1,265,000 after acquiring an additional 2,846 shares during the last quarter. Signaturefd LLC increased its holdings in shares of IAA by 334.9% in the first quarter. Signaturefd LLC now owns 722 shares of the company’s stock valued at $28,000 after purchasing an additional 556 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of IAA by 11.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 87,431 shares of the company’s stock valued at $3,344,000 after purchasing an additional 8,820 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of IAA by 1.2% in the first quarter. Victory Capital Management Inc. now owns 1,129,556 shares of the company’s stock valued at $41,398,000 after purchasing an additional 13,009 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of IAA by 1.6% in the first quarter. Advisor Group Holdings Inc. now owns 20,538 shares of the company’s stock valued at $35,112,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 99.63% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on IAA. Robert W. Baird cut their price target on IAA from $50.00 to $46.00 in a report on Wednesday, August 10th. CJS Securities cut IAA from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 8th. Northcoast Research cut IAA from a “buy” rating to a “neutral” rating in a report on Wednesday, November 9th. Jefferies Financial Group cut IAA from a “buy” rating to a “hold” rating and cut their price target for the company from $55.00 to $40.00 in a report on Tuesday, November 8th. Finally, Barrington Research lowered IAA from an “outperform” rating to an “underperform” rating in a research report on Monday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.60.
IAA Trading Down 1.0 %
IAA (NYSE:IAA – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.06). IAA had a return on equity of 76.94% and a net margin of 13.55%. The business had revenue of $497.50 million during the quarter, compared to analysts’ expectations of $476.61 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. On average, analysts anticipate that IAA, Inc. will post 2.32 EPS for the current year.
IAA, Inc operates a digital marketplace that connects vehicle buyers and sellers. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a range of sellers. It provides buyers with various bidding/buying digital channels, vehicle merchandising, evaluation services and online bidding tools, and replacement part inventory.
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