Mawer Investment Management Ltd. decreased its position in IAA, Inc. (NYSE:IAA) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,030,370 shares of the company’s stock after selling 102,101 shares during the period. Mawer Investment Management Ltd.’s holdings in IAA were worth $131,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of IAA by 2.5% during the 4th quarter. BlackRock Inc. now owns 11,454,909 shares of the company’s stock valued at $744,340,000 after buying an additional 281,966 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of IAA by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,165,313 shares of the company’s stock valued at $163,996,000 after buying an additional 129,680 shares during the last quarter. State Street Corp increased its stake in shares of IAA by 83.1% in the 3rd quarter. State Street Corp now owns 2,974,275 shares of the company’s stock valued at $154,870,000 after purchasing an additional 1,349,928 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of IAA by 30.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,886,195 shares of the company’s stock valued at $150,284,000 after purchasing an additional 668,950 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of IAA by 3.4% in the 3rd quarter. Wells Fargo & Company MN now owns 2,807,884 shares of the company’s stock valued at $146,207,000 after purchasing an additional 93,541 shares in the last quarter.
Shares of IAA stock traded down $1.33 during trading on Tuesday, hitting $59.63. 8,209 shares of the stock traded hands, compared to its average volume of 922,036. The firm has a market capitalization of $8.02 billion, a P/E ratio of 45.40, a price-to-earnings-growth ratio of 4.90 and a beta of 1.69. The firm’s fifty day moving average price is $61.40 and its 200-day moving average price is $57.65. IAA, Inc. has a 52-week low of $21.79 and a 52-week high of $66.85.
Several research firms recently issued reports on IAA. Zacks Investment Research cut IAA from a “buy” rating to a “hold” rating in a report on Thursday, February 18th. Truist lifted their price objective on IAA from $57.00 to $65.00 in a report on Tuesday, November 3rd. Robert W. Baird boosted their target price on IAA from $50.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Finally, Northcoast Research upgraded IAA from a “neutral” rating to a “buy” rating in a report on Friday, February 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.42.
IAA, Inc provides auction solutions for total loss, damaged, and low-value vehicles. The company's multi-channel platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a spectrum of sellers. Its solutions focuses on a diverse set of customers, provide buyers with the vehicles need to, among other things, fulfill vehicle rebuild requirements, replacement part inventory, or scrap demand.
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