Commerce Bank decreased its stake in KAR Auction Services, Inc (NYSE:KAR) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 302,525 shares of the specialty retailer’s stock after selling 94,741 shares during the period. Commerce Bank owned approximately 0.22% of KAR Auction Services worth $12,697,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its position in KAR Auction Services by 16.2% in the first quarter. UBS Asset Management Americas Inc. now owns 86,254 shares of the specialty retailer’s stock worth $3,767,000 after buying an additional 11,997 shares during the period. World Asset Management Inc boosted its position in KAR Auction Services by 27.4% in the first quarter. World Asset Management Inc now owns 6,197 shares of the specialty retailer’s stock worth $271,000 after buying an additional 1,331 shares during the period. Baskin Financial Services Inc. boosted its position in KAR Auction Services by 5.1% in the first quarter. Baskin Financial Services Inc. now owns 142,976 shares of the specialty retailer’s stock worth $6,243,000 after buying an additional 6,885 shares during the period. Swiss National Bank boosted its position in KAR Auction Services by 0.4% in the first quarter. Swiss National Bank now owns 227,700 shares of the specialty retailer’s stock worth $9,944,000 after buying an additional 900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in KAR Auction Services by 24.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,325 shares of the specialty retailer’s stock worth $233,000 after buying an additional 1,050 shares during the period. 99.95% of the stock is owned by institutional investors and hedge funds.

KAR Auction Services, Inc (KAR) opened at 44.92 on Thursday. KAR Auction Services, Inc has a 12-month low of $38.16 and a 12-month high of $47.03. The stock has a 50 day moving average of $42.37 and a 200-day moving average of $43.35. The company has a market cap of $6.17 billion, a PE ratio of 27.56 and a beta of 1.12.

KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858 million during the quarter, compared to analysts’ expectations of $850.67 million. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities research analysts anticipate that KAR Auction Services, Inc will post $2.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 78.53%.

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A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli assumed coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price for the company.

In other news, CEO John W. Kett sold 10,011 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now owns 65,982 shares in the company, valued at approximately $2,771,903.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,039 shares of company stock valued at $1,279,186. Company insiders own 1.30% of the company’s stock.

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

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

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