GAMMA Investing LLC Has $720,000 Stock Position in Ingram Micro Holding Corporation (NYSE:INGM)

GAMMA Investing LLC lifted its position in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 5,873.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,062 shares of the company’s stock after purchasing an additional 3,994 shares during the quarter. GAMMA Investing LLC’s holdings in Ingram Micro were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of INGM. Wellington Management Group LLP bought a new position in Ingram Micro in the 4th quarter valued at $26,969,000. California State Teachers Retirement System bought a new stake in shares of Ingram Micro during the fourth quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of Ingram Micro during the fourth quarter worth $118,000. Woodline Partners LP bought a new stake in shares of Ingram Micro during the fourth quarter worth $5,831,000. Finally, Zimmer Partners LP bought a new stake in shares of Ingram Micro during the fourth quarter worth $291,000.

Ingram Micro Stock Performance

NYSE INGM opened at $19.33 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average is $18.62 and its 200-day moving average is $20.06. Ingram Micro Holding Corporation has a one year low of $14.25 and a one year high of $25.69.

Ingram Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.076 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Ingram Micro’s previous quarterly dividend of $0.07.

Ingram Micro declared that its board has initiated a share buyback program on Tuesday, March 4th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INGM shares. Bank of America dropped their target price on Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on Ingram Micro from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Evercore ISI dropped their price objective on Ingram Micro from $27.00 to $26.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. Royal Bank Of Canada upped their price objective on Ingram Micro from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price objective on Ingram Micro from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.71.

Ingram Micro Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.