BlackRock Inc. Invests $398.87 Million in IAA (NYSE:IAA)

BlackRock Inc. bought a new position in IAA (NYSE:IAA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,285,344 shares of the company’s stock, valued at approximately $398,867,000. BlackRock Inc. owned about 0.08% of IAA as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Penn Capital Management Co. Inc. purchased a new position in shares of IAA in the 2nd quarter worth approximately $2,203,000. Aperio Group LLC purchased a new position in shares of IAA in the 2nd quarter worth approximately $1,484,000. Cornerstone Advisors Inc. purchased a new position in shares of IAA in the 2nd quarter worth approximately $35,000. CWM LLC purchased a new position in shares of IAA in the 2nd quarter worth approximately $4,987,000. Finally, Scopia Capital Management LP purchased a new position in shares of IAA in the 2nd quarter worth approximately $89,906,000. Hedge funds and other institutional investors own 95.82% of the company’s stock.

IAA stock opened at $42.12 on Thursday. IAA has a 12 month low of $34.96 and a 12 month high of $49.96. The firm has a 50 day moving average price of $39.30.

IAA (NYSE:IAA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $357.30 million during the quarter, compared to analysts’ expectations of $347.31 million. During the same quarter in the previous year, the company posted $0.33 EPS. IAA’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts expect that IAA will post 1.59 EPS for the current year.

A number of equities analysts have recently weighed in on IAA shares. Jefferies Financial Group started coverage on IAA in a research note on Wednesday, July 31st. They issued a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research upgraded IAA from a “sell” rating to a “hold” rating in a research note on Tuesday. Stephens restated an “overweight” rating and issued a $51.00 target price (up previously from $47.00) on shares of IAA in a research note on Wednesday. SunTrust Banks restated a “buy” rating and issued a $53.00 target price on shares of IAA in a research note on Wednesday, August 14th. Finally, Barrington Research reiterated a “hold” rating on shares of IAA in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. IAA currently has a consensus rating of “Buy” and a consensus target price of $50.71.

About IAA

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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Institutional Ownership by Quarter for IAA (NYSE:IAA)

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