KAR Auction Services Inc (KAR) Position Increased by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. boosted its stake in KAR Auction Services Inc (NYSE:KAR) by 34.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,929 shares of the specialty retailer’s stock after acquiring an additional 16,102 shares during the period. Penn Capital Management Co. Inc.’s holdings in KAR Auction Services were worth $3,309,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in KAR Auction Services by 13.3% in the fourth quarter. BlackRock Inc. now owns 7,018,588 shares of the specialty retailer’s stock valued at $354,508,000 after acquiring an additional 825,974 shares in the last quarter. Bessemer Group Inc. boosted its holdings in KAR Auction Services by 2.9% in the third quarter. Bessemer Group Inc. now owns 3,207,071 shares of the specialty retailer’s stock valued at $153,105,000 after acquiring an additional 91,373 shares in the last quarter. Schroder Investment Management Group boosted its holdings in KAR Auction Services by 11.1% in the third quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock valued at $142,612,000 after acquiring an additional 302,029 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in KAR Auction Services by 3.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,641,292 shares of the specialty retailer’s stock valued at $133,412,000 after acquiring an additional 76,299 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in KAR Auction Services by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,579,446 shares of the specialty retailer’s stock valued at $130,288,000 after acquiring an additional 23,454 shares in the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

KAR Auction Services Inc (NYSE KAR) opened at $52.02 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $7,036.48, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. KAR Auction Services Inc has a 52-week low of $40.27 and a 52-week high of $55.19.

Several analysts recently weighed in on the stock. Stephens set a $57.00 price target on shares of KAR Auction Services and gave the company a “hold” rating in a report on Wednesday, January 17th. Zacks Investment Research cut shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Gabelli cut shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. KAR Auction Services presently has an average rating of “Buy” and a consensus target price of $54.40.

In other KAR Auction Services news, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total transaction of $582,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa A. Price sold 10,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $51.18, for a total value of $511,800.00. The disclosure for this sale can be found here. Insiders have sold 28,563 shares of company stock valued at $1,448,530 in the last three months. Insiders own 1.30% of the company’s stock.

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

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