KAR Auction Services Inc (NYSE:KAR) insider James E. Money II sold 16,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $62.17, for a total transaction of $994,720.00. Following the sale, the insider now directly owns 25,619 shares of the company’s stock, valued at $1,592,733.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE KAR traded up $0.81 during trading on Tuesday, hitting $64.19. 42,289 shares of the company traded hands, compared to its average volume of 840,743. 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 capitalization of $8.44 billion, a PE ratio of 25.50, a P/E/G ratio of 1.88 and a beta of 1.06. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.76.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. KAR Auction Services had a net margin of 11.50% and a return on equity of 26.15%. The firm had revenue of $956.60 million during the quarter, compared to analysts’ expectations of $923.01 million. equities research analysts expect that KAR Auction Services Inc will post 3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Thursday, September 20th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. KAR Auction Services’s dividend payout ratio (DPR) is 56.00%.
A number of institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia purchased a new stake in KAR Auction Services during the 2nd quarter worth $1,967,000. Advisors Asset Management Inc. boosted its position in KAR Auction Services by 603.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 31,020 shares of the specialty retailer’s stock worth $757,000 after purchasing an additional 26,610 shares during the period. California Public Employees Retirement System boosted its position in KAR Auction Services by 15.8% during the 2nd quarter. California Public Employees Retirement System now owns 276,159 shares of the specialty retailer’s stock worth $15,134,000 after purchasing an additional 37,703 shares during the period. Bruderman Asset Management LLC purchased a new stake in KAR Auction Services during the 2nd quarter worth $121,000. Finally, Mutual Advisors LLC purchased a new stake in KAR Auction Services during the 2nd quarter worth $215,000. 97.66% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on KAR shares. ValuEngine raised shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Saturday, May 12th. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a research note on Monday, May 14th. Stephens reissued a “hold” rating and set a $60.00 price objective on shares of KAR Auction Services in a research note on Thursday, August 9th. Finally, Gabelli cut shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. KAR Auction Services has an average rating of “Buy” and an average target price of $60.89.
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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