Peregrine Capital Management LLC decreased its position in shares of IAA (NYSE:IAA) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386,653 shares of the company’s stock after selling 13,000 shares during the period. Peregrine Capital Management LLC owned approximately 0.29% of IAA worth $14,913,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Melvin Capital Management LP boosted its stake in IAA by 275.0% in the first quarter. Melvin Capital Management LP now owns 4,875,000 shares of the company’s stock valued at $146,055,000 after buying an additional 3,575,000 shares in the last quarter. UBS Group AG boosted its stake in IAA by 277.9% in the first quarter. UBS Group AG now owns 3,325,020 shares of the company’s stock valued at $99,619,000 after buying an additional 2,445,256 shares in the last quarter. Norges Bank acquired a new stake in IAA in the fourth quarter valued at about $57,933,000. Clearfield Capital Management LP acquired a new stake in IAA in the first quarter valued at about $18,714,000. Finally, Makaira Partners LLC acquired a new stake in IAA in the first quarter valued at about $14,055,000.

Shares of IAA stock traded down $1.25 during mid-day trading on Friday, reaching $43.35. 23,145,953 shares of the stock traded hands, compared to its average volume of 1,408,728. IAA has a 1-year low of $21.79 and a 1-year high of $51.74. The company has a market cap of $5.81 billion and a price-to-earnings ratio of 29.15. The stock’s fifty day simple moving average is $40.27 and its two-hundred day simple moving average is $40.04.

IAA (NYSE:IAA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. IAA had a negative return on equity of 125.99% and a net margin of 12.68%. The company had revenue of $366.60 million during the quarter, compared to the consensus estimate of $353.19 million. During the same period last year, the company earned $0.45 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that IAA will post 1.1 EPS for the current fiscal year.

Several research firms recently weighed in on IAA. Barrington Research reaffirmed a “buy” rating and issued a $47.50 price objective on shares of IAA in a research note on Thursday, May 28th. Stephens cut their price target on IAA from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Zacks Investment Research lowered IAA from a “hold” rating to a “sell” rating in a research note on Wednesday, July 8th. Finally, Robert W. Baird lifted their price target on IAA from $40.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. IAA presently has a consensus rating of “Buy” and an average price target of $48.75.

IAA Profile

IAA, Inc, together with its subsidiaries, provides auction solutions for total loss, damaged, and low-value vehicles in North America. It also provides auction services in the United Kingdom. The company, through its marketplaces, associate with insurance total loss vehicles, including vehicles from catastrophic events, as well as with noninsurance customers, such as dealerships, rental car companies, fleet lease companies, charitable organizations, and general public.

Further Reading: Fundamental Analysis and Individual Investors

Institutional Ownership by Quarter for IAA (NYSE:IAA)

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