Barings LLC lessened its position in KAR Auction Services Inc (NYSE:KAR) by 67.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the specialty retailer’s stock after selling 8,700 shares during the quarter. Barings LLC’s holdings in KAR Auction Services were worth $230,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Townsend & Associates Inc bought a new stake in shares of KAR Auction Services in the 2nd quarter worth about $120,000. Stephens Inc. AR bought a new stake in shares of KAR Auction Services in the 1st quarter worth about $215,000. Point72 Asia Hong Kong Ltd lifted its holdings in KAR Auction Services by 1,686.2% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,644 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 4,384 shares in the last quarter. Zweig DiMenna Associates LLC bought a new stake in KAR Auction Services during the 1st quarter valued at about $255,000. Finally, Nisa Investment Advisors LLC bought a new stake in KAR Auction Services during the 2nd quarter valued at about $279,000. Hedge funds and other institutional investors own 99.02% of the company’s stock.
Shares of KAR opened at $62.88 on Friday. KAR Auction Services Inc has a 1-year low of $43.83 and a 1-year high of $63.75. The stock has a market cap of $8.31 billion, a P/E ratio of 25.15, a P/E/G ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.31 and a quick ratio of 1.31.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $956.60 million for the quarter, compared to the consensus estimate of $923.01 million. KAR Auction Services had a net margin of 11.50% and a return on equity of 26.15%. research analysts forecast that KAR Auction Services Inc will post 2.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Thursday, September 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 56.00%.
A number of equities research analysts recently weighed in on the stock. Stephens reiterated a “hold” rating and set a $60.00 price objective on shares of KAR Auction Services in a report on Thursday, August 9th. Robert W. Baird lifted their price objective on shares of KAR Auction Services from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, August 9th. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Gabelli lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. They noted that the move was a valuation call. Finally, SunTrust Banks set a $70.00 price objective on shares of KAR Auction Services and gave the company a “buy” rating in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $60.89.
In other KAR Auction Services news, CEO James P. Hallett sold 150,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $62.11, for a total transaction of $9,316,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $61.53, for a total transaction of $615,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 317,018 shares of company stock worth $18,870,786 in the last three months. Insiders own 1.29% of the company’s stock.
KAR Auction Services Profile
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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