Telemark Asset Management Lowers stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Telemark Asset Management reduced its stake in LKQ Corporation by 18.92% during the most recent quarter end. The investment management company now holds a total of 300,000 shares of LKQ Corporation which is valued at $10,395,000 after selling 70,000 shares in LKQ Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.LKQ Corporation makes up approximately 2.22% of Telemark Asset Management’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in LKQ in the latest quarter, The investment management firm added 32,088 additional shares and now holds a total of 688,642 shares of LKQ Corporation which is valued at $23,861,445. LKQ Corporation makes up approx 0.04% of Parametric Portfolio Associates’s portfolio. Bluemountain Capital Management sold out all of its stake in LKQ during the most recent quarter. The investment firm sold 25,602 shares of LKQ which is valued $887,109.Blackrock Advisors reduced its stake in LKQ by selling 22,935 shares or 3.27% in the most recent quarter. The Hedge Fund company now holds 678,768 shares of LKQ which is valued at $23,519,311. LKQ Corporation makes up approx 0.02% of Blackrock Advisors’s portfolio.Assetmark Inc boosted its stake in LKQ in the latest quarter, The investment management firm added 862 additional shares and now holds a total of 1,315 shares of LKQ Corporation which is valued at $45,617.Janney Montgomery Scott boosted its stake in LKQ in the latest quarter, The investment management firm added 5,656 additional shares and now holds a total of 19,761 shares of LKQ Corporation which is valued at $695,390. LKQ Corporation makes up approx 0.01% of Janney Montgomery Scott’s portfolio.

LKQ Corporation opened for trading at $35.74 and hit $36.14 on the upside on Monday, eventually ending the session at $35.98, with a gain of 0.81% or 0.29 points. The heightened volatility saw the trading volume jump to 10,67,462 shares. Company has a market cap of $11,050 M.

On the company’s financial health, LKQ Corporation reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $2450.69 million for the quarter, compared to analysts expectations of $2413.43 million. The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on LKQ Corporation. Susquehanna Initiated LKQ Corporation on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $42.

LKQ Corporation is a distributor of vehicle products including replacement parts components and systems used in the repair and maintenance of vehicles as well as specialty vehicle products and accessories. The company distributes a variety of products to collision and mechanical repair shops including aftermarket collision and mechanical products recycled collision and mechanical products refurbished collision products such as wheels bumper covers and lights and remanufactured engines. It is a provider of alternative vehicle collision replacement products and alternative vehicle mechanical replacement products with its sales processing and distribution facilities reaching markets in the United States and Canada. It also provides alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region of continental Europe. The Company is organized into four segments: Wholesale – North America; Wholesale – Europe; Self Service and Specialty.

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