Mawer Investment Management Ltd. Invests $154.28 Million in IAA (NYSE:IAA)

Mawer Investment Management Ltd. acquired a new position in shares of IAA (NYSE:IAA) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,978,332 shares of the company’s stock, valued at approximately $154,280,000.

Other hedge funds also recently modified their holdings of the company. Advisor Group Inc. bought a new stake in shares of IAA during the second quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of IAA during the second quarter worth $33,000. FTB Advisors Inc. bought a new stake in shares of IAA during the second quarter worth $34,000. Cornerstone Advisors Inc. bought a new stake in shares of IAA during the second quarter worth $35,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of IAA during the second quarter worth $42,000.

Several brokerages have recently issued reports on IAA. Guggenheim began coverage on shares of IAA in a research report on Tuesday, July 2nd. They set a “buy” rating and a $48.00 price objective for the company. Wolfe Research initiated coverage on shares of IAA in a research report on Friday, July 12th. They set an “outperform” rating for the company. Barrington Research restated a “hold” rating on shares of IAA in a report on Monday, August 12th. Northcoast Research restated a “neutral” rating on shares of IAA in a report on Monday, July 1st. Finally, Stephens initiated coverage on shares of IAA in a report on Monday, July 1st. They set an “overweight” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.80.

IAA traded down $0.77 during trading hours on Friday, hitting $47.53. 227,839 shares of the company’s stock were exchanged, compared to its average volume of 1,170,269. IAA has a 1-year low of $38.08 and a 1-year high of $49.06. The firm has a 50-day moving average price of $44.82.

IAA (NYSE:IAA) last announced its earnings results 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 business had revenue of $366.40 million for the quarter, compared to analyst estimates of $357.90 million. During the same quarter in the previous year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that IAA will post 1.59 EPS for the current year.

IAA Company 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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