Readystate Asset Management LP Purchases Shares of 53,370 Ingram Micro Holding Corporation $INGM

Readystate Asset Management LP acquired a new position in Ingram Micro Holding Corporation (NYSE:INGMFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,370 shares of the company’s stock, valued at approximately $1,244,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Balyasny Asset Management L.P. boosted its holdings in Ingram Micro by 1.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 48,618 shares of the company’s stock worth $1,038,000 after buying an additional 658 shares during the period. CWM LLC raised its holdings in Ingram Micro by 20.5% during the fourth quarter. CWM LLC now owns 4,144 shares of the company’s stock valued at $88,000 after acquiring an additional 705 shares during the period. Gotham Asset Management LLC raised its holdings in Ingram Micro by 1.0% during the fourth quarter. Gotham Asset Management LLC now owns 77,662 shares of the company’s stock valued at $1,657,000 after acquiring an additional 732 shares during the period. Covestor Ltd lifted its position in shares of Ingram Micro by 15.4% in the fourth quarter. Covestor Ltd now owns 5,669 shares of the company’s stock valued at $121,000 after acquiring an additional 756 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Ingram Micro by 6.3% in the second quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock valued at $284,000 after acquiring an additional 803 shares in the last quarter.

Analyst Ratings Changes

INGM has been the topic of several recent analyst reports. Raymond James Financial reissued an “outperform” rating and set a $34.00 target price on shares of Ingram Micro in a research note on Friday, May 1st. Royal Bank Of Canada upped their price target on Ingram Micro from $24.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group lifted their price objective on shares of Ingram Micro from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Morgan Stanley boosted their target price on shares of Ingram Micro from $27.50 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Ingram Micro from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.29.

Read Our Latest Stock Analysis on INGM

Insider Buying and Selling at Ingram Micro

In other Ingram Micro news, VP Augusto Aragone sold 10,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the vice president owned 140,465 shares in the company, valued at $4,213,950. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Platinum Equity, Llc sold 5,167,069 shares of the stock in a transaction on 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 in the company, valued at approximately $5,151,847,240.57. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,227,069 shares of company stock worth $151,765,013 in the last 90 days. 0.95% of the stock is currently owned by insiders.

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 price-to-earnings ratio of 19.92, a P/E/G ratio of 0.87 and a beta of 1.78. Ingram Micro Holding Corporation has a 12-month low of $18.09 and a 12-month high of $31.69. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $28.47 and its 200-day moving average price is $25.52.

Ingram Micro (NYSE:INGMGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $13.96 billion for the quarter, compared to the consensus estimate of $12.76 billion. Ingram Micro had a return on equity of 17.19% and a net margin of 0.66%.The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Ingram Micro Holding Corporation will post 3.29 EPS for the current fiscal year.

Ingram Micro Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ingram Micro (NYSE:INGM)

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