Zuckerman Investment Group LLC Has $19.79 Million Position in KAR Auction Services, Inc. (NYSE:KAR)

Zuckerman Investment Group LLC lifted its holdings in KAR Auction Services, Inc. (NYSE:KARGet Rating) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,771,603 shares of the specialty retailer’s stock after buying an additional 31,955 shares during the quarter. KAR Auction Services comprises 3.7% of Zuckerman Investment Group LLC’s portfolio, making the stock its 6th biggest holding. Zuckerman Investment Group LLC’s holdings in KAR Auction Services were worth $19,789,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of KAR Auction Services by 7.5% in the third quarter. Barclays PLC now owns 40,719 shares of the specialty retailer’s stock worth $454,000 after buying an additional 2,830 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of KAR Auction Services by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,163,619 shares of the specialty retailer’s stock worth $12,998,000 after buying an additional 15,779 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of KAR Auction Services in the third quarter worth about $1,610,000. Strs Ohio lifted its position in shares of KAR Auction Services by 472.3% in the third quarter. Strs Ohio now owns 68,100 shares of the specialty retailer’s stock worth $760,000 after buying an additional 56,200 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in KAR Auction Services during the third quarter valued at approximately $149,000.

Analyst Ratings Changes

A number of brokerages have issued reports on KAR. StockNews.com downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. Bank of America downgraded KAR Auction Services from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $23.00 to $17.00 in a research report on Monday, January 9th. JPMorgan Chase & Co. decreased their price objective on KAR Auction Services from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, November 3rd. Finally, Robert W. Baird decreased their price objective on KAR Auction Services from $22.00 to $18.00 in a research report on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, KAR Auction Services has an average rating of “Hold” and a consensus price target of $19.40.

KAR Auction Services Trading Down 0.4 %

Shares of NYSE KAR traded down $0.06 during midday trading on Wednesday, hitting $14.28. The company’s stock had a trading volume of 14,679 shares, compared to its average volume of 597,137. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $13.41 and its two-hundred day moving average is $14.07. KAR Auction Services, Inc. has a 12-month low of $11.15 and a 12-month high of $22.10. The firm has a market cap of $1.56 billion, a P/E ratio of 14.34 and a beta of 1.45.

KAR Auction Services (NYSE:KARGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The specialty retailer reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.10). KAR Auction Services had a return on equity of 2.27% and a net margin of 12.34%. The business had revenue of $393.00 million during the quarter, compared to analysts’ expectations of $393.02 million. As a group, equities research analysts expect that KAR Auction Services, Inc. will post 0.29 EPS for the current year.

KAR Auction Services Profile

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KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

Further Reading

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

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