AlphaCrest Capital Management LLC Takes $1.81 Million Position in IAA, Inc. (NYSE:IAA)

AlphaCrest Capital Management LLC acquired a new stake in IAA, Inc. (NYSE:IAAGet Rating) in the second quarter, Holdings 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.

IAA (NYSE:IAAGet Rating) last issued its earnings results on Monday, November 7th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). IAA had a net margin of 13.55% and a return on equity of 76.94%. The firm had revenue of $497.50 million during the quarter, compared to analysts’ expectations of $476.61 million. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts expect that IAA, Inc. will post 2.32 earnings per share for the current fiscal year.

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

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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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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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