Clinton Group Inc. lowered its holdings in KAR Auction Services, Inc (NYSE:KAR) by 5.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,594 shares of the specialty retailer’s stock after selling 979 shares during the period. Clinton Group Inc.’s holdings in KAR Auction Services were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KAR. Comerica Bank grew its holdings in shares of KAR Auction Services by 1.4% in the first quarter. Comerica Bank now owns 6,094 shares of the specialty retailer’s stock valued at $269,000 after purchasing an additional 87 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of 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 valued at $3,767,000 after purchasing an additional 11,997 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of KAR Auction Services in the first quarter valued at approximately $822,000. Envestnet Asset Management Inc. grew its holdings in shares of KAR Auction Services by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,398 shares of the specialty retailer’s stock valued at $280,000 after purchasing an additional 69 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of KAR Auction Services in the first quarter valued at approximately $280,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

A number of research analysts recently weighed in on KAR shares. Zacks Investment Research cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Gabelli started coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. Finally, BidaskClub cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $53.33.

In other news, CEO John W. Kett sold 10,011 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total transaction of $420,562.11. Following the completion of the sale, the chief executive officer now owns 65,982 shares of the company’s stock, valued at $2,771,903.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total transaction of $436,800.00. The disclosure for this sale can be found here. Insiders have sold 20,031 shares of company stock worth $858,249 in the last quarter. Insiders own 1.30% of the company’s stock.

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KAR Auction Services, Inc (NYSE:KAR) opened at 47.91 on Friday. The firm has a market cap of $6.58 billion, a PE ratio of 29.39 and a beta of 1.07. KAR Auction Services, Inc has a one year low of $38.16 and a one year high of $48.65. The company has a 50 day moving average of $45.72 and a 200-day moving average of $43.49.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $858.00 million for the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. On average, equities research analysts predict that KAR Auction Services, Inc will post $2.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio is currently 78.53%.

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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