Owl Creek Asset Management L.P. Cuts Holdings in LKQ Co. (LKQ)
Owl Creek Asset Management L.P. lowered its position in shares of LKQ Co. (NASDAQ:LKQ) by 16.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 769,132 shares of the auto parts company’s stock after selling 148,574 shares during the quarter. LKQ comprises about 0.6% of Owl Creek Asset Management L.P.’s investment portfolio, making the stock its 19th largest position. Owl Creek Asset Management L.P.’s holdings in LKQ were worth $18,252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Mountain Vantage Advisers L.L.C. grew its holdings in shares of LKQ by 128.1% during the fourth quarter. New Mountain Vantage Advisers L.L.C. now owns 2,413,039 shares of the auto parts company’s stock valued at $57,261,000 after purchasing an additional 1,355,186 shares during the last quarter. Suntrust Banks Inc. grew its holdings in shares of LKQ by 168.6% during the fourth quarter. Suntrust Banks Inc. now owns 17,495 shares of the auto parts company’s stock valued at $415,000 after purchasing an additional 10,981 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of LKQ by 34.0% during the fourth quarter. Bank of America Corp DE now owns 975,422 shares of the auto parts company’s stock valued at $23,147,000 after purchasing an additional 247,407 shares during the last quarter. Hound Partners LLC grew its holdings in shares of LKQ by 2.1% during the fourth quarter. Hound Partners LLC now owns 5,921,275 shares of the auto parts company’s stock valued at $140,512,000 after purchasing an additional 118,962 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new position in shares of LKQ during the fourth quarter valued at approximately $4,983,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.
In other LKQ news, EVP John S. Quinn sold 9,806 shares of the stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $26.56, for a total transaction of $260,447.36. Following the completion of the transaction, the executive vice president now directly owns 253,578 shares of the company’s stock, valued at approximately $6,735,031.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John S. Quinn sold 6,861 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $27.63, for a total value of $189,569.43. Following the transaction, the executive vice president now directly owns 241,563 shares of the company’s stock, valued at $6,674,385.69. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Shares of LKQ stock opened at $28.32 on Tuesday. LKQ Co. has a 12-month low of $22.74 and a 12-month high of $39.81. The company has a market capitalization of $8.76 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.67 and a quick ratio of 1.00.
LKQ (NASDAQ:LKQ) last issued its quarterly earnings data on Thursday, February 28th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). LKQ had a return on equity of 14.59% and a net margin of 4.04%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts forecast that LKQ Co. will post 2.4 EPS for the current fiscal year.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.
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