KAMES CAPITAL plc trimmed its holdings in shares of KAR Auction Services Inc (NYSE:KAR) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,445 shares of the specialty retailer’s stock after selling 28,536 shares during the period. KAMES CAPITAL plc owned about 0.53% of KAR Auction Services worth $38,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. SeaCrest Wealth Management LLC bought a new position in KAR Auction Services during the 4th quarter worth about $103,000. SG Americas Securities LLC bought a new position in KAR Auction Services during the 4th quarter worth about $105,000. Cerebellum GP LLC bought a new stake in shares of KAR Auction Services in the 4th quarter valued at about $127,000. Assetmark Inc. boosted its holdings in shares of KAR Auction Services by 336.4% in the 4th quarter. Assetmark Inc. now owns 3,116 shares of the specialty retailer’s stock valued at $157,000 after buying an additional 2,402 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of KAR Auction Services in the 4th quarter valued at about $207,000.
A number of analysts have recently weighed in on KAR shares. Zacks Investment Research cut shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Guggenheim started coverage on shares of KAR Auction Services in a report on Tuesday, April 17th. They issued a “neutral” rating on the stock. Barrington Research set a $55.00 price target on shares of KAR Auction Services and gave the company a “buy” rating in a report on Sunday, February 25th. SunTrust Banks started coverage on shares of KAR Auction Services in a report on Thursday, March 22nd. They issued a “buy” rating and a $65.00 price target on the stock. Finally, JPMorgan Chase raised their price target on shares of KAR Auction Services from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, March 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $58.78.
NYSE:KAR opened at $53.80 on Friday. KAR Auction Services Inc has a fifty-two week low of $40.27 and a fifty-two week high of $56.75. The stock has a market capitalization of $7.26 billion, a PE ratio of 21.52, a PEG ratio of 1.28 and a beta of 1.10. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.75.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, May 8th. The specialty retailer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $950.50 million during the quarter, compared to analysts’ expectations of $923.66 million. KAR Auction Services had a net margin of 10.81% and a return on equity of 24.93%. KAR Auction Services’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. equities research analysts forecast that KAR Auction Services Inc will post 2.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Thursday, June 21st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, June 20th. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.
In related news, insider Rebecca C. Polak sold 44,000 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $56.20, for a total value of $2,472,800.00. Following the completion of the sale, the insider now directly owns 90,390 shares in the company, valued at approximately $5,079,918. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $53.39, for a total transaction of $533,900.00. The disclosure for this sale can be found here. Insiders sold a total of 66,188 shares of company stock valued at $3,674,452 over the last quarter. 1.29% of the stock is owned by company insiders.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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