Swiss National Bank lessened its stake in shares of IAA, Inc. (NYSE:IAA – Get Rating) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,600 shares of the company’s stock after selling 1,200 shares during the period. Swiss National Bank owned approximately 0.24% of IAA worth $10,408,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in IAA by 191.7% during the 2nd quarter. Lazard Asset Management LLC now owns 4,562 shares of the company’s stock valued at $149,000 after buying an additional 2,998 shares in the last quarter. Duality Advisers LP bought a new position in IAA during the 2nd quarter valued at approximately $2,802,000. Walleye Capital LLC increased its position in IAA by 59.3% during the 2nd quarter. Walleye Capital LLC now owns 122,665 shares of the company’s stock valued at $4,020,000 after buying an additional 45,665 shares in the last quarter. Baird Financial Group Inc. boosted its stake in IAA by 6.1% during the 2nd quarter. Baird Financial Group Inc. now owns 64,935 shares of the company’s stock valued at $2,128,000 after purchasing an additional 3,736 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in IAA by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 96,664 shares of the company’s stock valued at $3,168,000 after purchasing an additional 1,064 shares during the last quarter. Institutional investors own 99.63% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on IAA. CJS Securities downgraded IAA from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 8th. Barrington Research downgraded IAA from an “outperform” rating to an “underperform” rating in a research note on Monday, November 7th. Jefferies Financial Group downgraded IAA from a “buy” rating to a “hold” rating and cut their target price for the company from $55.00 to $40.00 in a research note on Tuesday, November 8th. Robert W. Baird cut their target price on IAA from $50.00 to $46.00 in a research note on Wednesday, August 10th. Finally, Northcoast Research downgraded IAA from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 9th. One equities research 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 company currently has a consensus rating of “Hold” and a consensus price target of $47.60.
IAA Stock Down 1.4 %
IAA (NYSE:IAA – Get Rating) last released its earnings results on Thursday, November 10th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The company had revenue of $497.50 million for the quarter, compared to analysts’ expectations of $476.61 million. IAA had a net margin of 13.55% and a return on equity of 76.94%. IAA’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities analysts forecast 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.
- Get a free copy of the StockNews.com research report on IAA (IAA)
- Is GameStop Stock Setting Up for Another Short Squeeze?
- Here’s Why SoFi Technologies Stock is Cheap at These Levels
- Warren Buffet Bought Taiwan Semiconductor Stock, Should You?
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
Receive News & Ratings for IAA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAA and related companies with MarketBeat.com's FREE daily email newsletter.