Alkeon Capital Management LLC lifted its holdings in KAR Auction Services Inc (NYSE:KAR) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,294,440 shares of the specialty retailer’s stock after acquiring an additional 253,195 shares during the quarter. Alkeon Capital Management LLC owned 0.96% of KAR Auction Services worth $65,382,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of KAR Auction Services in the fourth quarter worth $103,000. SG Americas Securities LLC acquired a new stake in shares of KAR Auction Services in the fourth quarter worth $105,000. Cerebellum GP LLC acquired a new stake in shares of KAR Auction Services in the fourth quarter worth $127,000. KBC Group NV increased its stake in shares of KAR Auction Services by 81.5% in the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after acquiring an additional 1,211 shares during the period. Finally, Assetmark Inc. increased its stake in shares of KAR Auction Services by 336.4% in the fourth quarter. Assetmark Inc. now owns 3,116 shares of the specialty retailer’s stock worth $157,000 after acquiring an additional 2,402 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.
KAR traded down $0.12 during midday trading on Thursday, hitting $53.90. 581,144 shares of the company traded hands, compared to its average volume of 977,458. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.80. The company has a market cap of $7,314.53, a price-to-earnings ratio of 21.57, a PEG ratio of 1.67 and a beta of 1.11. KAR Auction Services Inc has a 52-week low of $40.27 and a 52-week high of $56.75.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.10. The business had revenue of $890.40 million for the quarter, compared to the consensus estimate of $882.22 million. KAR Auction Services had a net margin of 10.47% and a return on equity of 23.61%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. research analysts forecast that KAR Auction Services Inc will post 2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Thursday, March 22nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Wednesday, March 21st. KAR Auction Services’s payout ratio is 56.00%.
KAR has been the topic of a number of research reports. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Stephens set a $57.00 price target on shares of KAR Auction Services and gave the company a “hold” rating in a research report on Wednesday, January 17th. Robert W. Baird restated a “buy” rating and set a $58.00 price target on shares of KAR Auction Services in a research report on Friday, February 23rd. Barrington Research set a $55.00 price target on shares of KAR Auction Services and gave the company a “buy” rating in a research report on Sunday, February 25th. Finally, Gabelli upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. KAR Auction Services currently has a consensus rating of “Buy” and a consensus price target of $58.89.
In other news, EVP Lisa A. Price sold 6,563 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $54.05, for a total value of $354,730.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Rebecca C. Polak sold 44,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $56.20, for a total transaction of $2,472,800.00. Following the completion of the transaction, the insider now directly owns 90,390 shares in the company, valued at $5,079,918. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,751 shares of company stock worth $3,495,282. Insiders own 1.30% of the company’s stock.
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KAR Auction Services Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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