Public Employees Retirement Association of Colorado lowered its stake in shares of KAR Auction Services Inc. (NYSE:KAR) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,089 shares of the company’s stock after selling 1,538 shares during the period. Public Employees Retirement Association of Colorado owned about 0.19% of KAR Auction Services worth $10,773,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hood River Capital Management LLC raised its stake in KAR Auction Services by 2.6% in the second quarter. Hood River Capital Management LLC now owns 321,656 shares of the company’s stock valued at $13,426,000 after buying an additional 8,226 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in KAR Auction Services by 60.1% in the second quarter. Rice Hall James & Associates LLC now owns 56,594 shares of the company’s stock valued at $2,362,000 after buying an additional 21,238 shares during the last quarter. GW&K Investment Management LLC raised its stake in KAR Auction Services by 6.6% in the second quarter. GW&K Investment Management LLC now owns 786,896 shares of the company’s stock valued at $32,845,000 after buying an additional 48,624 shares during the last quarter. Artemis Investment Management LLP raised its stake in KAR Auction Services by 100.0% in the second quarter. Artemis Investment Management LLP now owns 386,200 shares of the company’s stock valued at $16,126,000 after buying an additional 193,100 shares during the last quarter. Finally, Pitcairn Co. raised its stake in KAR Auction Services by 0.4% in the second quarter. Pitcairn Co. now owns 6,896 shares of the company’s stock valued at $288,000 after buying an additional 25 shares during the last quarter.

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

Shares of KAR Auction Services Inc. (NYSE:KAR) traded up 0.28% during trading on Friday, reaching $43.42. 473,644 shares of the company were exchanged. KAR Auction Services Inc. has a 52-week low of $31.54 and a 52-week high of $44.10. The stock has a 50-day moving average of $42.73 and a 200 day moving average of $40.92. The stock has a market capitalization of $5.99 billion, a P/E ratio of 27.17 and a beta of 1.37.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.01. KAR Auction Services had a net margin of 7.79% and a return on equity of 19.03%. The business earned $771.80 million during the quarter, compared to the consensus estimate of $757.67 million. During the same period in the prior year, the company posted $0.51 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities analysts anticipate that KAR Auction Services Inc. will post $2.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st were given a $0.29 dividend. The ex-dividend date was Monday, September 19th. This represents a $1.16 annualized dividend and a dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio is 72.50%.

Several research firms have weighed in on KAR. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday. Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research note on Monday, August 29th. Susquehanna began coverage on shares of KAR Auction Services in a research note on Friday, August 26th. They set a “positive” rating and a $50.00 target price for the company. Jefferies Group boosted their target price on shares of KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.71.

In related news, COO Donald S. Gottwald sold 18,125 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $40.38, for a total value of $731,887.50. Following the completion of the transaction, the chief operating officer now directly owns 1,039 shares of the company’s stock, valued at $41,954.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa A. Price sold 5,140 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $44.00, for a total value of $226,160.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

About KAR Auction Services

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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

5 Day Chart for NYSE:KAR

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