Boothbay Fund Management LLC Makes New Investment in LKQ Co. (NASDAQ:LKQ)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC bought a new position in LKQ Co. (NASDAQ:LKQ – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,392 shares of the auto parts company’s stock, valued at approximately $301,000.

Other large investors have also bought and sold shares of the company. Covestor Ltd grew its position in shares of LKQ by 81.1% in the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 279 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of LKQ by 148.1% in the second quarter. Quadrant Capital Group LLC now owns 836 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 499 shares in the last quarter. Ronald Blue Trust Inc. grew its position in shares of LKQ by 417.6% in the third quarter. Ronald Blue Trust Inc. now owns 823 shares of the auto parts company’s stock valued at $41,000 after purchasing an additional 664 shares in the last quarter. Janiczek Wealth Management LLC grew its position in shares of LKQ by 78.2% in the third quarter. Janiczek Wealth Management LLC now owns 909 shares of the auto parts company’s stock valued at $45,000 after purchasing an additional 399 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of LKQ by 1,874.6% in the third quarter. Rockefeller Capital Management L.P. now owns 1,402 shares of the auto parts company’s stock valued at $66,000 after purchasing an additional 1,331 shares in the last quarter. 93.55% of the stock is owned by hedge funds and other institutional investors.

LKQ Price Performance

NASDAQ:LKQ opened at $58.33 on Friday. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 14.19 and a beta of 1.36. LKQ Co. has a 52-week low of $42.36 and a 52-week high of $59.33. The stock has a fifty day moving average of $56.63 and a 200 day moving average of $53.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.66 and a current ratio of 1.87.

LKQ (NASDAQ:LKQ – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The auto parts company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.06). The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.04 billion. LKQ had a net margin of 8.98% and a return on equity of 19.31%. LKQ’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. On average, research analysts expect that LKQ Co. will post 4.07 EPS for the current fiscal year.

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 16th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, March 15th. LKQ’s dividend payout ratio (DPR) is currently 26.76%.

Insiders Place Their Bets

In other LKQ news, Director Holdings L.P. Valueact sold 383,088 shares of LKQ stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $57.76, for a total transaction of $22,127,162.88. Following the completion of the sale, the director now owns 4,663,667 shares of the company’s stock, valued at $269,373,405.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 2,825,295 shares of company stock valued at $161,084,516 over the last 90 days. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

LKQ has been the subject of several recent research reports. Roth Capital reiterated a “buy” rating on shares of LKQ in a research report on Tuesday, February 21st. StockNews.com cut LKQ from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 27th. Finally, Raymond James lifted their price objective on LKQ from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $67.00.

About LKQ

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LKQ Corp. is a distributor of vehicle products and its parts to repair, maintain, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self-Service segments. The company was founded by Donald F.