Shell Asset Management Co. Trims Stake in IAA, Inc. (NYSE:IAA)

Shell Asset Management Co. reduced its position in shares of IAA, Inc. (NYSE:IAAGet Rating) by 12.9% in the first quarter, Holdings Channel reports. The firm owned 11,152 shares of the company’s stock after selling 1,648 shares during the period. Shell Asset Management Co.’s holdings in IAA were worth $427,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of IAA by 251.5% during the 1st quarter. Fifth Third Bancorp now owns 717 shares of the company’s stock valued at $27,000 after purchasing an additional 513 shares in the last quarter. Signaturefd LLC raised its stake in shares of IAA by 334.9% during the first quarter. Signaturefd LLC now owns 722 shares of the company’s stock worth $28,000 after acquiring an additional 556 shares in the last quarter. Confluence Wealth Services Inc. purchased a new stake in IAA during the fourth quarter valued at about $29,000. Covestor Ltd purchased a new stake in IAA during the 4th quarter valued at about $32,000. Finally, Rockefeller Capital Management L.P. increased its holdings in IAA by 124.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 699 shares of the company’s stock valued at $35,000 after purchasing an additional 387 shares during the period. 99.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IAA. TheStreet upgraded IAA from a “d+” rating to a “c” rating in a report on Tuesday, June 14th. Barrington Research raised IAA from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Tuesday, May 10th. Finally, Guggenheim raised IAA from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, June 9th.

IAA Stock Performance

IAA stock opened at $37.80 on Friday. The stock has a market capitalization of $5.07 billion, a PE ratio of 16.80 and a beta of 1.58. IAA, Inc. has a 12-month low of $31.32 and a 12-month high of $61.17. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.81. The stock’s 50 day simple moving average is $35.78 and its 200 day simple moving average is $37.49.

IAA (NYSE:IAAGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.13. The firm had revenue of $557.60 million for the quarter, compared to analysts’ expectations of $533.75 million. IAA had a return on equity of 106.58% and a net margin of 15.39%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. As a group, research analysts forecast that IAA, Inc. will post 2.32 earnings per share for the current fiscal year.

IAA Company Profile

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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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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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