Cleararc Capital Inc. Acquires New Stake in LKQ Co.

Cleararc Capital Inc. acquired 7,620 shares of LKQ Co. (LKQ) during its first quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired approximately $216,000 in LKQ’s shares.

Other institutional investors have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. increased its holdings in LKQ by 120.5% in the fourth quarter. According to the SEC, CSat Investment Advisory L.P. now owns 1,290 shares of LKQ’s company’s stock, which is valued at $31,000. Investors Research Corp bought a new position in LKQ in the first quarter valued at approximately $34,000. Oregon Public Employees Retirement Fund increased its holdings in LKQ by 2,321.8% in the fourth quarter. The retirement fund now owns 821,319 shares of the auto parts company’s stock.

LKQ last posted its quarterly earnings data in April 2019. LKQ reported a revenue of $3.10 billion for the quarter. The company’s revenue during its first quarter was up 13.9% compared to the same quarter last year. LKQ repurchased approximately 2.6 million shares of its common stock at an average price per share of $26.66, returning approximately $70 million of capital to its stockholders, according to its financial report.

When referring to company’s last posted financial report the company’s CEO and president said the following:

“I am particularly pleased with the 90 basis points year-over-year improvement in our North America gross margins, a direct result of our ongoing margin enhancement and pricing initiatives to offset inflationary pressures,” said Dominick Zarcone, LKQ Corporation president and chief executive officer.

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