Matrix Capital Management Company Lp Lowers stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Matrix Capital Management Company Lp reduced its stake in LKQ Corporation by 47.62% during the most recent quarter end. The investment management company now holds a total of 2,125,000 shares of LKQ Corporation which is valued at $73,631,250 after selling 1,932,000 shares in LKQ Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.LKQ Corporation makes up approximately 3.11% of Matrix Capital Management Company Lp’s portfolio.

Other Hedge Funds, Including , Zions Bancorporation added LKQ to its portfolio by purchasing 4 company shares during the most recent quarter which is valued at $139. Homrich Berg added LKQ to its portfolio by purchasing 359,484 company shares during the most recent quarter which is valued at $12,456,121. LKQ Corporation makes up approx 1.14% of Homrich Berg’s portfolio.Marble Harbor Investment Counsel boosted its stake in LKQ in the latest quarter, The investment management firm added 11,625 additional shares and now holds a total of 118,130 shares of LKQ Corporation which is valued at $4,097,930. LKQ Corporation makes up approx 0.98% of Marble Harbor Investment Counsel’s portfolio. Acadian Asset Management added LKQ to its portfolio by purchasing 347 company shares during the most recent quarter which is valued at $11,413.

LKQ Corporation closed down -0.53 points or -1.47% at $35.56 with 18,05,587 shares getting traded on Thursday. Post opening the session at $35.9, the shares hit an intraday low of $35.5 and an intraday high of $36.05 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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