Handelsbanken Fonder AB lifted its stake in KAR Auction Services Inc (NYSE:KAR) by 38.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 425,000 shares of the specialty retailer’s stock after buying an additional 118,000 shares during the period. Handelsbanken Fonder AB owned about 0.31% of KAR Auction Services worth $23,035,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of KAR Auction Services by 13.3% in the fourth quarter. BlackRock Inc. now owns 7,018,588 shares of the specialty retailer’s stock valued at $354,508,000 after buying an additional 825,974 shares during the period. Deutsche Bank AG lifted its stake in KAR Auction Services by 5.8% during the fourth quarter. Deutsche Bank AG now owns 706,627 shares of the specialty retailer’s stock worth $35,689,000 after purchasing an additional 38,804 shares during the period. American International Group Inc. lifted its stake in KAR Auction Services by 21.7% during the fourth quarter. American International Group Inc. now owns 17,399 shares of the specialty retailer’s stock worth $879,000 after purchasing an additional 3,107 shares during the period. Jefferies Group LLC lifted its stake in KAR Auction Services by 39.5% during the fourth quarter. Jefferies Group LLC now owns 23,208 shares of the specialty retailer’s stock worth $1,172,000 after purchasing an additional 6,571 shares during the period. Finally, CT Mason lifted its stake in KAR Auction Services by 315.0% during the fourth quarter. CT Mason now owns 114,199 shares of the specialty retailer’s stock worth $5,768,000 after purchasing an additional 86,679 shares during the period. Institutional investors and hedge funds own 99.46% of the company’s stock.
KAR Auction Services opened at $55.14 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $7.53 billion, a PE ratio of 20.90, a PEG ratio of 1.33 and a beta of 1.09. KAR Auction Services Inc has a 1 year low of $40.27 and a 1 year high of $56.75.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, May 8th. The specialty retailer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The business had revenue of $950.50 million during the quarter, compared to analyst estimates of $923.66 million. KAR Auction Services had a net margin of 10.81% and a return on equity of 24.93%. KAR Auction Services’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. sell-side analysts anticipate that KAR Auction Services Inc will post 2.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Thursday, June 21st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Wednesday, June 20th. KAR Auction Services’s dividend payout ratio is currently 56.00%.
In other KAR Auction Services news, insider Rebecca C. Polak sold 44,240 shares of KAR Auction Services stock in a transaction on Monday, June 18th. The shares were sold at an average price of $55.05, for a total transaction of $2,435,412.00. Following the completion of the sale, the insider now owns 90,630 shares of the company’s stock, valued at approximately $4,989,181.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 103,829 shares of company stock valued at $5,706,625. 1.29% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. ValuEngine cut shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research cut shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research note on Monday, May 14th. Guggenheim assumed coverage on shares of KAR Auction Services in a research note on Tuesday, April 17th. They set a “neutral” rating for the company. Finally, SunTrust Banks assumed coverage on shares of KAR Auction Services in a research note on Thursday, March 22nd. They set a “buy” rating and a $65.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $58.78.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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