Citadel Advisors LLC Acquires New Stake in IAA (NYSE:IAA)

Citadel Advisors LLC acquired a new stake in shares of IAA (NYSE:IAA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,633,916 shares of the company’s stock, valued at approximately $63,363,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in IAA during the second quarter valued at $503,091,000. BlackRock Inc. bought a new stake in IAA during the second quarter valued at $398,867,000. Mawer Investment Management Ltd. bought a new stake in IAA during the second quarter valued at $154,280,000. Janus Henderson Group PLC bought a new stake in IAA during the second quarter valued at $132,397,000. Finally, Bessemer Group Inc. bought a new stake in IAA during the second quarter valued at $105,420,000. 93.83% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on IAA shares. SunTrust Banks reissued a “buy” rating and set a $53.00 price objective on shares of IAA in a research note on Wednesday, August 14th. CJS Securities lowered IAA from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 14th. Robert W. Baird started coverage on IAA in a research note on Friday, June 28th. They set an “outperform” rating for the company. Guggenheim started coverage on IAA in a research note on Tuesday, July 2nd. They set a “buy” rating and a $48.00 price target for the company. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of IAA in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. IAA currently has an average rating of “Buy” and an average target price of $49.67.

IAA stock traded up $0.78 during mid-day trading on Friday, hitting $44.90. 1,546,654 shares of the stock were exchanged, compared to its average volume of 705,206. The firm’s fifty day simple moving average is $46.35. IAA has a 12 month low of $38.08 and a 12 month high of $49.96.

IAA (NYSE:IAA) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.08. The company had revenue of $366.40 million during the quarter, compared to analysts’ expectations of $357.90 million. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, equities analysts expect that IAA will post 1.6 earnings per share for the current fiscal year.

IAA Profile

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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