Reinhart Partners Inc. lessened its stake in shares of IAA (NYSE:IAA) by 77.4% in the 3rd quarter, Holdings Channel reports. The firm owned 84,159 shares of the company’s stock after selling 288,064 shares during the period. Reinhart Partners Inc.’s holdings in IAA were worth $3,512,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in shares of IAA during the 2nd quarter worth about $503,091,000. BlackRock Inc. acquired a new position in shares of IAA during the 2nd quarter worth about $398,867,000. Boston Partners acquired a new position in shares of IAA during the 2nd quarter worth about $181,542,000. First Manhattan Co. acquired a new position in shares of IAA during the 2nd quarter worth about $162,230,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of IAA during the 2nd quarter worth about $154,280,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.
NYSE IAA traded up $0.13 during trading hours on Friday, hitting $38.24. 863,498 shares of the company’s stock traded hands, compared to its average volume of 1,295,275. IAA has a 52-week low of $34.96 and a 52-week high of $49.96. The company’s 50-day moving average is $39.61.
IAA (NYSE:IAA) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. The business had revenue of $366.40 million for the quarter, compared to analysts’ expectations of $357.90 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that IAA will post 1.59 earnings per share for the current fiscal year.
Several analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of IAA in a research note on Wednesday, July 31st. They set a “buy” rating and a $55.00 price objective for the company. SunTrust Banks reaffirmed a “buy” rating and set a $53.00 price objective on shares of IAA in a research note on Wednesday, August 14th. CJS Securities cut shares of IAA from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 14th. Barrington Research reaffirmed a “hold” rating on shares of IAA in a research note on Thursday, September 12th. Finally, Zacks Investment Research cut shares of IAA from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. IAA presently has an average rating of “Buy” and an average price target of $49.67.
IAA, Inc provides salvage vehicle auctions and related services. It offers salvage auction services, such as inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The company's salvage auctions facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, charity donation vehicles, recovered stolen (or theft) vehicles, and low value used vehicles through live and online auctions.
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