Readystate Asset Management LP Takes Position in Ingram Micro Holding Corporation $INGM

Readystate Asset Management LP purchased a new position in Ingram Micro Holding Corporation (NYSE:INGM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,370 shares of the company’s stock, valued at approximately $1,244,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Ingram Micro by 252.2% during the 1st quarter. Royal Bank of Canada now owns 1,472 shares of the company’s stock valued at $34,000 after acquiring an additional 1,054 shares during the period. Comerica Bank lifted its position in shares of Ingram Micro by 2,844.2% during the third quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after purchasing an additional 3,669 shares during the last quarter. CWM LLC lifted its position in shares of Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock worth $88,000 after purchasing an additional 705 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Ingram Micro by 33.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,136 shares of the company’s stock valued at $88,000 after purchasing an additional 1,031 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Ingram Micro in the fourth quarter worth about $94,000.

Insider Activity

In other Ingram Micro news, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $29.03, for a total transaction of $150,000,013.07. Following the completion of the sale, the insider directly owned 177,466,319 shares of the company’s stock, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Augusto Aragone sold 10,000 shares of Ingram Micro stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the vice president directly owned 140,465 shares in the company, valued at approximately $4,213,950. The trade was a 6.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,227,069 shares of company stock valued at $151,765,013. Insiders own 0.95% of the company’s stock.

Ingram Micro Stock Up 0.0%

Shares of NYSE INGM opened at $30.08 on Thursday. The stock has a market capitalization of $6.97 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 0.87 and a beta of 1.78. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. Ingram Micro Holding Corporation has a 12-month low of $18.09 and a 12-month high of $31.69. The stock’s fifty day simple moving average is $28.47 and its two-hundred day simple moving average is $25.52.

Ingram Micro (NYSE:INGM) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. Ingram Micro had a return on equity of 17.19% and a net margin of 0.66%.The firm had revenue of $13.96 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Ingram Micro’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, analysts expect that Ingram Micro Holding Corporation will post 3.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Ingram Micro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. The Goldman Sachs Group upped their target price on shares of Ingram Micro from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ingram Micro in a research report on Friday, July 24th. Evercore set a $26.00 price target on shares of Ingram Micro in a research note on Monday, April 20th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $34.00 price target on shares of Ingram Micro in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.29.

Ingram Micro Company Profile

Ingram Micro, headquartered in Irvine, California, is a global technology distributor and supply chain services provider. Listed on the New York Stock Exchange under the ticker INGM, the company connects leading technology manufacturers, cloud providers and channel partners through an integrated portfolio of products and services. Ingram Micro’s end-to-end solutions span product distribution, cloud enablement, e-commerce, logistics and lifecycle management, enabling customers of all sizes to bring new technology to market efficiently.

The company’s offerings are organized across several core areas.