D. E. Shaw & Co. Inc. Purchases New Position in IAA (NYSE:IAA)

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D. E. Shaw & Co. Inc. purchased a new stake in shares of IAA (NYSE:IAA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,587,053 shares of the company’s stock, valued at approximately $100,326,000.

A number of other hedge funds also recently made changes to their positions in IAA. Vanguard Group Inc. purchased a new position in IAA during the second quarter valued at approximately $503,091,000. BlackRock Inc. acquired a new stake in IAA in the second quarter valued at approximately $398,867,000. Mawer Investment Management Ltd. acquired a new stake in IAA in the second quarter valued at approximately $154,280,000. Janus Henderson Group PLC acquired a new stake in IAA in the second quarter valued at approximately $132,397,000. Finally, Bessemer Group Inc. acquired a new stake in IAA in the second quarter valued at approximately $105,420,000. Institutional investors own 93.83% of the company’s stock.

Shares of NYSE:IAA traded up $0.78 during trading on Friday, reaching $44.90. The stock had a trading volume of 1,546,654 shares, compared to its average volume of 705,206. The stock has a fifty day moving average of $46.35. IAA has a 1-year low of $38.08 and a 1-year high of $49.96.

IAA (NYSE:IAA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.08. The firm had revenue of $366.40 million during the quarter, compared to analyst estimates of $357.90 million. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, analysts forecast that IAA will post 1.6 earnings per share for the current year.

IAA has been the topic of several research analyst reports. Wolfe Research initiated coverage on IAA in a report on Friday, July 12th. They issued an “outperform” rating on the stock. Jefferies Financial Group initiated coverage on IAA in a report on Wednesday, July 31st. They issued a “buy” rating and a $55.00 price objective on the stock. CJS Securities lowered IAA from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 14th. Guggenheim initiated coverage on IAA in a report on Tuesday, July 2nd. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Robert W. Baird initiated coverage on IAA in a report on Friday, June 28th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $49.67.

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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