Ghisallo Capital Management LLC Acquires New Shares in Ingram Micro Holding Corp. (NYSE:INGM)

Ghisallo Capital Management LLC bought a new position in Ingram Micro Holding Corp. (NYSE:INGM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 200,000 shares of the company’s stock, valued at approximately $3,878,000. Ghisallo Capital Management LLC owned approximately 0.09% of Ingram Micro at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of INGM. Capital World Investors bought a new stake in Ingram Micro in the 4th quarter worth about $68,295,000. Victory Capital Management Inc. purchased a new stake in Ingram Micro in the fourth quarter worth approximately $53,532,000. JPMorgan Chase & Co. bought a new stake in Ingram Micro in the 4th quarter worth approximately $37,793,000. American Century Companies Inc. purchased a new position in shares of Ingram Micro in the 4th quarter worth $36,268,000. Finally, Wellington Management Group LLP purchased a new stake in Ingram Micro during the fourth quarter valued at $26,969,000.

Ingram Micro Stock Performance

Shares of NYSE:INGM opened at $17.65 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96. The stock’s fifty day moving average is $18.54. Ingram Micro Holding Corp. has a fifty-two week low of $14.25 and a fifty-two week high of $25.69.

Ingram Micro (NYSE:INGM) last posted its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $13.21 billion. Research analysts expect that Ingram Micro Holding Corp. will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.074 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.30 annualized dividend and a yield of 1.68%.

Ingram Micro announced that its board has authorized a share repurchase program on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

INGM has been the subject of several research reports. Jefferies Financial Group reduced their price target on shares of Ingram Micro from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Loop Capital decreased their price target on shares of Ingram Micro from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Bank of America cut their price objective on shares of Ingram Micro from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their target price on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on Ingram Micro from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.21.

Ingram Micro Company Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.