First Mercantile Trust Co. cut its holdings in KAR Auction Services Inc (NYSE:KAR) by 31.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,054 shares of the specialty retailer’s stock after selling 1,371 shares during the period. First Mercantile Trust Co.’s holdings in KAR Auction Services were worth $146,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Private Capital Group LLC raised its stake in KAR Auction Services by 32.8% in the 4th quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 245 shares during the last quarter. IFP Advisors Inc raised its stake in KAR Auction Services by 13.4% in the 4th quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock valued at $79,000 after purchasing an additional 199 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in KAR Auction Services in the 3rd quarter valued at about $100,000. Rehmann Capital Advisory Group raised its stake in KAR Auction Services by 9,598.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 6,207 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 6,143 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in KAR Auction Services in the 4th quarter valued at about $104,000. Institutional investors and hedge funds own 96.94% of the company’s stock.
NYSE KAR opened at $53.18 on Tuesday. KAR Auction Services Inc has a 12 month low of $45.36 and a 12 month high of $64.55. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $7.11 billion, a PE ratio of 21.27, a P/E/G ratio of 1.54 and a beta of 1.19.
KAR has been the subject of several analyst reports. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, October 17th. ValuEngine raised shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Barrington Research set a $70.00 target price on shares of KAR Auction Services and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, SunTrust Banks cut their target price on shares of KAR Auction Services to $65.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $64.57.
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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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