California Public Employees Retirement System boosted its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,700 shares of the specialty retailer’s stock after acquiring an additional 1,200 shares during the period. California Public Employees Retirement System owned about 0.15% of KAR Auction Services worth $8,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new position in KAR Auction Services during the 2nd quarter worth approximately $118,000. Tower Research Capital LLC TRC grew its holdings in KAR Auction Services by 378.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock worth $130,000 after acquiring an additional 2,346 shares in the last quarter. CENTRAL TRUST Co acquired a new position in KAR Auction Services during the 2nd quarter worth approximately $150,000. SG Americas Securities LLC acquired a new position in KAR Auction Services during the 1st quarter worth approximately $162,000. Finally, PNC Financial Services Group Inc. grew its holdings in KAR Auction Services by 105.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after acquiring an additional 2,087 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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Shares of KAR Auction Services, Inc (NYSE:KAR) opened at 47.86 on Wednesday. The stock’s 50 day moving average is $46.03 and its 200 day moving average is $43.57. The stock has a market cap of $6.57 billion, a P/E ratio of 29.36 and a beta of 1.07. KAR Auction Services, Inc has a 12 month low of $38.16 and a 12 month high of $48.65.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The business had revenue of $858.00 million during the quarter, compared to the consensus estimate of $850.67 million. During the same quarter last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts predict that KAR Auction Services, Inc will post $2.25 earnings per share for the current fiscal year.

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

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

Several brokerages have recently weighed in on KAR. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday. Jefferies Group LLC restated a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a research report on Tuesday, September 12th. Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $51.00 to $48.00 in a research report on Thursday, September 7th. BidaskClub downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Finally, Gabelli began coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. KAR Auction Services currently has an average rating of “Buy” and a consensus target price of $53.50.

KAR Auction Services 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).

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

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