Argent Capital Management LLC grew its position in IAA, Inc. (NYSE:IAA) by 25.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,280 shares of the company’s stock after buying an additional 2,080 shares during the period. Argent Capital Management LLC’s holdings in IAA were worth $567,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC increased its position in IAA by 4.8% in the first quarter. Bruderman Asset Management LLC now owns 3,827 shares of the company’s stock worth $211,000 after purchasing an additional 174 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of IAA by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 44,690 shares of the company’s stock worth $2,464,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. boosted its stake in IAA by 35.0% in the first quarter. Whittier Trust Co. now owns 844 shares of the company’s stock valued at $47,000 after acquiring an additional 219 shares during the last quarter. Xponance Inc. grew its holdings in IAA by 1.5% during the 1st quarter. Xponance Inc. now owns 17,577 shares of the company’s stock worth $969,000 after acquiring an additional 267 shares during the period. Finally, Arizona State Retirement System raised its position in shares of IAA by 0.8% during the 1st quarter. Arizona State Retirement System now owns 39,143 shares of the company’s stock valued at $2,158,000 after acquiring an additional 298 shares during the last quarter.
Separately, Zacks Investment Research upgraded IAA from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Tuesday.
IAA (NYSE:IAA) last announced its quarterly earnings results on Tuesday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.12. IAA had a return on equity of 669.99% and a net margin of 15.44%. The company had revenue of $423.50 million during the quarter, compared to the consensus estimate of $391.61 million. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. Sell-side analysts predict that IAA, Inc. will post 2.07 earnings per share for the current year.
IAA Company Profile
IAA, Inc provides auction solutions for total loss, damaged, and low-value vehicles. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a spectrum of sellers. Its solutions provide buyers with the vehicles need to, among other things, fulfill vehicle rebuild requirements, replacement part inventory, or scrap demand.
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