KAR Auction Services, Inc (KAR) Position Increased by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. boosted its stake in KAR Auction Services, Inc (NYSE:KAR) by 34.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,524 shares of the specialty retailer’s stock after acquiring an additional 179,055 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.51% of KAR Auction Services worth $29,107,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Toronto Dominion Bank raised its holdings in KAR Auction Services by 7.2% in the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after acquiring an additional 190 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in KAR Auction Services by 378.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after acquiring an additional 2,346 shares in the last quarter. CENTRAL TRUST Co acquired a new stake in KAR Auction Services in the second quarter valued at $150,000. SG Americas Securities LLC acquired a new stake in KAR Auction Services in the first quarter valued at $162,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in KAR Auction Services by 3.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,897 shares of the specialty retailer’s stock valued at $214,000 after acquiring an additional 168 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.
KAR has been the topic of several recent analyst reports. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Gabelli initiated coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price target on the stock. BidaskClub cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $56.50.
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In other news, CEO John W. Kett sold 10,011 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 65,982 shares in the company, valued at $2,771,903.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Kett sold 10,008 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.06, for a total value of $420,936.48. Following the completion of the sale, the chief executive officer now owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,039 shares of company stock valued at $1,279,186. Company insiders own 1.30% of the company’s stock.
Shares of KAR Auction Services, Inc (KAR) opened at 45.63 on Thursday. KAR Auction Services, Inc has a 12-month low of $38.16 and a 12-month high of $47.03. The company has a 50-day moving average of $43.26 and a 200 day moving average of $43.26. The firm has a market capitalization of $6.27 billion, a PE ratio of 27.99 and a beta of 1.10.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The company 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 business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. On average, analysts predict that KAR Auction Services, Inc will post $2.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.81%. KAR Auction Services’s payout ratio is presently 78.53%.
KAR Auction Services Company Profile
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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