Swiss National Bank Grows Stake in KAR Auction Services Inc (KAR)

Swiss National Bank lifted its position in shares of KAR Auction Services Inc (NYSE:KAR) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,900 shares of the specialty retailer’s stock after purchasing an additional 4,500 shares during the period. Swiss National Bank owned about 0.17% of KAR Auction Services worth $11,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of KAR Auction Services by 2.9% during the third quarter. Bessemer Group Inc. now owns 3,207,071 shares of the specialty retailer’s stock worth $153,105,000 after purchasing an additional 91,373 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of KAR Auction Services by 11.1% during the third quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock worth $142,612,000 after purchasing an additional 302,029 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of KAR Auction Services by 3.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,641,292 shares of the specialty retailer’s stock worth $133,412,000 after purchasing an additional 76,299 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of KAR Auction Services by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 2,147,425 shares of the specialty retailer’s stock worth $100,972,000 after purchasing an additional 30,299 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of KAR Auction Services by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,991,860 shares of the specialty retailer’s stock worth $100,609,000 after purchasing an additional 79,994 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

KAR has been the topic of several research reports. Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Thursday, November 2nd. JPMorgan Chase & Co. upped their target price on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Stephens set a $57.00 target price on KAR Auction Services and gave the company a “hold” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $54.40.

In related news, EVP Lisa A. Price sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $51.18, for a total value of $511,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Shares of KAR Auction Services Inc (NYSE:KAR) opened at $50.49 on Wednesday. KAR Auction Services Inc has a twelve month low of $40.27 and a twelve month high of $55.19. The company has a market capitalization of $7,036.48, a P/E ratio of 29.70, a P/E/G ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.10. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The business had revenue of $890.40 million for the quarter, compared to analysts’ expectations of $882.22 million. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. equities analysts predict that KAR Auction Services Inc will post 2.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Thursday, March 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.77%. KAR Auction Services’s payout ratio is presently 82.35%.

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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).

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

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