In a recent transaction, Platinum Equity, LLC executed a significant sale of shares in Ingram Micro Holding Corp (NASDAQ:INGM). The sale involved 2,790,000 shares at a price of $22.00 each, resulting in a total transaction value of approximately $61.38 million. This move leaves Platinum Equity with 210,952,854 shares in the company following the transaction.
The shares were held by Imola JV Holdings, L.P., a Platinum Equity entity, with Tom Gores, a manager at Platinum Equity, potentially sharing beneficial ownership due to his management position. The transaction was filed with the SEC on November 6, 2024, and reflects activity as of November 4, 2024.
InvestingPro Insights
Following Platinum Equity's substantial sale of Ingram Micro Holding Corp (NASDAQ:INGM) shares, it's worth examining some key financial metrics and insights provided by InvestingPro to better understand the company's current position.
According to InvestingPro data, Ingram Micro's revenue for the last twelve months as of Q2 2024 stood at $47.82 billion, with a gross profit of $3.5 billion. The company's P/E ratio (Adjusted) for the same period was 15.04, suggesting a moderate valuation compared to some tech sector peers.
An InvestingPro Tip highlights that Ingram Micro is a prominent player in the Electronic Equipment, Instruments & Components industry. This aligns with the company's substantial revenue figures and underscores its significance in the sector, which may have factored into Platinum Equity's decision-making process regarding the share sale.
Another relevant InvestingPro Tip notes that the stock generally trades with low price volatility. This characteristic could be attractive to certain investors looking for stability, especially in light of the recent large transaction by Platinum Equity.
It's worth noting that InvestingPro offers additional tips and insights that could provide a more comprehensive view of Ingram Micro's financial health and market position. Investors interested in a deeper analysis can access 6 more tips on the InvestingPro platform.
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