Ghisallo Capital Management LLC Has $3.22 Million Stock Holdings in Ingram Micro Holding Corporation $INGM

Key Points

• Ghisallo Capital Management LLC cut its stake in Ingram Micro by 25.0%, selling 50,000 shares and leaving a 150,000-share holding worth about $3.22 million.
• Ingram Micro topped quarterly estimates (EPS $0.96 vs. $0.90; revenue $14.88B, +11.5% YoY), and the company raised its quarterly dividend to $0.082 (annualized $0.33, 1.5% yield) while authorizing a $100 million share buyback.
• Analysts are mixed: the MarketBeat consensus is Hold with an average price target of $24.33 (ratings breakdown: 4 Buy, 4 Hold, 1 Sell).

Ghisallo Capital Management LLC lowered its stake in Ingram Micro Holding Corporation (NYSE:INGM - Free Report) by 25.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 150,000 shares of the company's stock after selling 50,000 shares during the period. Ghisallo Capital Management LLC owned approximately 0.06% of Ingram Micro worth $3,224,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of INGM. Wellington Management Group LLP increased its position in Ingram Micro by 17.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,106,326 shares of the company's stock worth $45,265,000 after buying an additional 310,058 shares during the period. Comerica Bank boosted its position in shares of Ingram Micro by 2,844.2% in the third quarter. Comerica Bank now owns 3,798 shares of the company's stock valued at $82,000 after acquiring an additional 3,669 shares during the period. Jump Financial LLC boosted its position in shares of Ingram Micro by 7.6% in the third quarter. Jump Financial LLC now owns 95,584 shares of the company's stock valued at $2,054,000 after acquiring an additional 6,740 shares during the period. Marshall Wace LLP acquired a new position in shares of Ingram Micro in the third quarter valued at about $6,332,000. Finally, Sei Investments Co. increased its position in Ingram Micro by 47.6% during the third quarter. Sei Investments Co. now owns 41,600 shares of the company's stock worth $894,000 after acquiring an additional 13,414 shares during the period.

Analysts Set New Price Targets

INGM has been the subject of several analyst reports. The Goldman Sachs Group cut shares of Ingram Micro from a "strong-buy" rating to a "neutral" rating and set a $24.00 price objective for the company. in a research note on Tuesday, January 13th. Weiss Ratings restated a "hold (c)" rating on shares of Ingram Micro in a research report on Monday, December 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $24.00 price target on shares of Ingram Micro in a research report on Monday, December 22nd. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $24.00 price target on shares of Ingram Micro in a research note on Monday, December 15th. Finally, Raymond James Financial set a $27.00 price target on Ingram Micro in a research report on Tuesday, March 3rd. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Ingram Micro presently has a consensus rating of "Hold" and a consensus price target of $24.33.

Ingram Micro Trading Up 0.3%

Shares of Ingram Micro stock opened at $21.47 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.65. Ingram Micro Holding Corporation has a 12-month low of $14.25 and a 12-month high of $26.38. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.73 and a beta of 2.27. The firm's 50-day moving average price is $21.58 and its two-hundred day moving average price is $21.42.

Ingram Micro (NYSE:INGM - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. Ingram Micro had a net margin of 0.62% and a return on equity of 16.78%. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $14.18 billion. The business's quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts forecast that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current fiscal year.

Ingram Micro Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.082 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Ingram Micro's previous quarterly dividend of $0.08. Ingram Micro's dividend payout ratio (DPR) is 23.19%.

Ingram Micro announced that its Board of Directors has authorized a stock repurchase program on Monday, March 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

About Ingram Micro

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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