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

Ghisallo Capital Management LLC purchased a new stake in shares of Ingram Micro Holding Corp. (NYSE:INGM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in Ingram Micro during the fourth quarter valued at approximately $45,000. Cohen & Steers Inc. acquired a new position in Ingram Micro during the fourth quarter valued at approximately $48,000. Tower Research Capital LLC TRC acquired a new position in Ingram Micro during the fourth quarter valued at approximately $52,000. Russell Investments Group Ltd. acquired a new position in Ingram Micro during the fourth quarter valued at approximately $120,000. Finally, Rhumbline Advisers acquired a new position in Ingram Micro during the fourth quarter valued at approximately $171,000.

Ingram Micro Stock Performance

INGM stock traded up $0.23 during midday trading on Thursday, reaching $18.01. The company had a trading volume of 80,432 shares, compared to its average volume of 430,509. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.93. The stock's 50 day moving average price is $18.21. 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 - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, analysts anticipate that Ingram Micro Holding Corp. will post 2.71 EPS for the current year.

Ingram Micro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.074 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.30 dividend on an annualized basis and a yield of 1.64%.

Ingram Micro declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INGM shares. Royal Bank of Canada boosted their target price on shares of Ingram Micro from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Ingram Micro from $26.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Raymond James reduced their target price on shares of Ingram Micro from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley reduced their target price on shares of Ingram Micro from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their target price on shares of Ingram Micro from $33.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.