Stock Traders Purchase High Volume of Call Options on IAA (NYSE:IAA)

IAA, Inc. (NYSE:IAA) was the target of unusually large options trading on Thursday. Traders bought 29,090 call options on the company. This represents an increase of approximately 1,575% compared to the typical volume of 1,737 call options.

Shares of NYSE:IAA opened at $53.53 on Friday. IAA has a 12-month low of $36.76 and a 12-month high of $66.85. The company has a market capitalization of $7.21 billion, a PE ratio of 32.44 and a beta of 1.73. The stock’s 50 day moving average price is $58.34. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 8.77.

IAA (NYSE:IAA) last issued its quarterly earnings data on Tuesday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.12. IAA had a return on equity of 669.99% and a net margin of 15.44%. The company had revenue of $423.50 million during the quarter, compared to analysts’ expectations of $391.61 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that IAA will post 2.07 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas boosted its stake in shares of IAA by 0.3% in the fourth quarter. Teacher Retirement System of Texas now owns 1,707,501 shares of the company’s stock valued at $110,953,000 after buying an additional 4,569 shares during the period. Federated Hermes Inc. boosted its stake in shares of IAA by 986.6% in the fourth quarter. Federated Hermes Inc. now owns 397,864 shares of the company’s stock valued at $25,853,000 after buying an additional 361,247 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of IAA in the first quarter valued at approximately $193,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of IAA by 39.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,000 shares of the company’s stock valued at $4,744,000 after buying an additional 20,700 shares during the period. Finally, Moody Aldrich Partners LLC boosted its stake in shares of IAA by 19.1% in the first quarter. Moody Aldrich Partners LLC now owns 4,712 shares of the company’s stock valued at $260,000 after buying an additional 754 shares during the period.

Separately, Zacks Investment Research upgraded IAA from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday.

About IAA

IAA, Inc provides auction solutions for total loss, damaged, and low-value vehicles. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a spectrum of sellers. Its solutions provide buyers with the vehicles need to, among other things, fulfill vehicle rebuild requirements, replacement part inventory, or scrap demand.

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