AlphaCrest Capital Management LLC Sells 36,818 Shares of IAA, Inc. (NYSE:IAA)

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC trimmed its position in shares of IAA, Inc. (NYSE:IAA – Get Rating) by 66.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,318 shares of the company’s stock after selling 36,818 shares during the period. AlphaCrest Capital Management LLC’s holdings in IAA were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IAA. River Road Asset Management LLC bought a new position in IAA during the third quarter valued at about $35,084,000. Victory Capital Management Inc. grew its stake in shares of IAA by 75.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,329,527 shares of the company’s stock valued at $74,196,000 after purchasing an additional 1,000,763 shares during the period. London Co. of Virginia bought a new stake in shares of IAA in the 2nd quarter valued at approximately $28,972,000. Reinhart Partners Inc. bought a new stake in shares of IAA in the 3rd quarter valued at approximately $25,552,000. Finally, Burgundy Asset Management Ltd. grew its stake in shares of IAA by 747.9% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 799,897 shares of the company’s stock valued at $26,213,000 after purchasing an additional 705,556 shares during the period. 99.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IAA has been the topic of several analyst reports. Northcoast Research lowered IAA from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 9th. Robert W. Baird lowered IAA from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $46.00 to $44.00 in a research note on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.50.

IAA Stock Up 0.8 %

NYSE IAA opened at $38.90 on Thursday. The firm has a market cap of $5.21 billion, a PE ratio of 17.76 and a beta of 1.44. IAA, Inc. has a one year low of $31.50 and a one year high of $44.07. The stock’s 50 day simple moving average is $41.00 and its 200 day simple moving average is $38.23. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.75 and a quick ratio of 1.75.

IAA (NYSE:IAA – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $523.50 million for the quarter, compared to analyst estimates of $524.55 million. IAA had a return on equity of 67.28% and a net margin of 13.93%. IAA’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. As a group, sell-side analysts forecast that IAA, Inc. will post 2.43 earnings per share for the current fiscal year.

IAA Profile

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IAA, Inc engages in the provision of auction solutions for total loss, damaged and low-value vehicles. Its solutions focus on a diverse set of global customers, providing buyers with rebuild requirements, replacement part inventory and scrap demand. It operates through the following segments: United States and International.

AlphaCrest Capital Management LLC Sells 36,818 Shares of IAA, Inc. (NYSE:IAA)

Analysts Set New Price Targets

IAA Stock Up 0.8 %

IAA Profile

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