AlphaCrest Capital Management LLC acquired a new stake in IAA, Inc. (NYSE:IAA – Get Rating) in the second quarter, Holdings Channel.com reports. The fund acquired 55,136 shares of the company’s stock, valued at approximately $1,807,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. EMG Holdings L.P. boosted its stake in shares of IAA by 327.9% in the 2nd quarter. EMG Holdings L.P. now owns 157,900 shares of the company’s stock valued at $5,174,000 after buying an additional 121,000 shares during the period. Discerene Group LP lifted its holdings in shares of IAA by 14.5% in the 2nd quarter. Discerene Group LP now owns 4,248,741 shares of the company’s stock valued at $139,231,000 after purchasing an additional 538,337 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of IAA by 241.5% in the second quarter. Trexquant Investment LP now owns 44,799 shares of the company’s stock valued at $1,468,000 after acquiring an additional 31,681 shares during the period. Bank of Montreal Can boosted its stake in IAA by 36.5% during the 2nd quarter. Bank of Montreal Can now owns 273,580 shares of the company’s stock worth $10,287,000 after purchasing an additional 73,155 shares during the period. Finally, Burgundy Asset Management Ltd. increased its position in 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 acquiring an additional 705,556 shares during the period. Institutional investors and hedge funds own 99.63% of the company’s stock.
IAA Stock Down 1.0 %
NYSE IAA opened at $37.71 on Thursday. IAA, Inc. has a 12 month low of $31.32 and a 12 month high of $52.20. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.54 and a beta of 1.59. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.67 and a quick ratio of 1.67. The company’s 50 day simple moving average is $36.08 and its 200 day simple moving average is $36.16.
Analyst Upgrades and Downgrades
IAA has been the subject of several recent analyst reports. Barrington Research cut IAA from an “outperform” rating to an “underperform” rating in a report on Monday, November 7th. CJS Securities cut IAA from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 8th. Robert W. Baird reduced their price target on shares of IAA from $50.00 to $46.00 in a report on Wednesday, August 10th. Northcoast Research lowered IAA from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 9th. Finally, Jefferies Financial Group cut IAA from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $40.00 in a report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.60.
IAA Company Profile
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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