Ghisallo Capital Management LLC Sells 50,000 Shares of Ingram Micro Holding Corporation $INGM

Ghisallo Capital Management LLC decreased its holdings in shares of Ingram Micro Holding Corporation (NYSE:INGM) by 25.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 50,000 shares during the quarter. Ghisallo Capital Management LLC’s holdings in Ingram Micro were worth $3,224,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank increased its position in Ingram Micro by 2,844.2% during the 3rd quarter. Comerica Bank now owns 3,798 shares of the company’s stock worth $82,000 after purchasing an additional 3,669 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Ingram Micro by 855.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,400 shares of the company’s stock valued at $116,000 after purchasing an additional 4,835 shares during the last quarter. Crossingbridge Advisors LLC acquired a new stake in Ingram Micro in the second quarter valued at approximately $206,000. Quantbot Technologies LP grew its stake in shares of Ingram Micro by 8.2% during the third quarter. Quantbot Technologies LP now owns 11,416 shares of the company’s stock worth $245,000 after buying an additional 868 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Ingram Micro by 6.3% during the second quarter. Rhumbline Advisers now owns 13,646 shares of the company’s stock worth $284,000 after buying an additional 803 shares during the last quarter.

Ingram Micro Stock Up 0.3%

Shares of NYSE:INGM opened at $21.47 on Friday. The firm has a market cap of $5.05 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.73 and a beta of 2.27. Ingram Micro Holding Corporation has a 12-month low of $14.25 and a 12-month high of $26.38. The business has a fifty day simple moving average of $21.58 and a 200 day simple moving average of $21.42. 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 (NYSE:INGM) last released its quarterly earnings results on Monday, March 2nd. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Ingram Micro had a return on equity of 16.78% and a net margin of 0.62%.The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $14.18 billion. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts predict that Ingram Micro Holding Corporation will post 2.71 earnings per share for the current year.

Ingram Micro announced that its board has approved a share buyback plan on Monday, March 2nd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Ingram Micro Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INGM. Zacks Research upgraded Ingram Micro from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. William Blair restated an “outperform” rating on shares of Ingram Micro in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ingram Micro in a report on Monday, December 29th. Raymond James Financial set a $27.00 target price on Ingram Micro in a research report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Ingram Micro from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.33.

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.