Rice Hall James & Associates LLC raised its position in shares of Karmin Exploration Inc. (NYSE:KAR) by 33.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,018 shares of the company’s stock after purchasing an additional 18,398 shares during the quarter. Rice Hall James & Associates LLC owned 0.05% of Karmin Exploration worth $3,486,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of KAR. Vanguard Group Inc. boosted its stake in shares of Karmin Exploration by 0.5% in the second quarter. Vanguard Group Inc. now owns 11,344,446 shares of the company’s stock worth $476,126,000 after buying an additional 57,704 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Karmin Exploration by 18.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the company’s stock worth $246,255,000 after purchasing an additional 918,735 shares during the period. BlackRock Inc. raised its holdings in Karmin Exploration by 1.9% in the 2nd quarter. BlackRock Inc. now owns 5,726,037 shares of the company’s stock worth $240,320,000 after purchasing an additional 107,601 shares during the period. Bessemer Group Inc. raised its holdings in Karmin Exploration by 43.0% in the 2nd quarter. Bessemer Group Inc. now owns 3,115,698 shares of the company’s stock worth $130,767,000 after purchasing an additional 937,368 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Karmin Exploration by 5.0% in the 2nd quarter. Schroder Investment Management Group now owns 2,730,979 shares of the company’s stock worth $114,045,000 after purchasing an additional 130,936 shares during the period.
A number of equities analysts have commented on the company. Zacks Investment Research cut Karmin Exploration from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Stephens lowered Karmin Exploration from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $51.00 to $48.00 in a research report on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Karmin Exploration in a research report on Tuesday, September 12th. J P Morgan Chase & Co raised their price target on Karmin Exploration from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, Gabelli cut Karmin Exploration from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Karmin Exploration presently has an average rating of “Buy” and a consensus target price of C$52.20.
Karmin Exploration Inc. (NYSE:KAR) traded up C$0.18 on Friday, hitting C$48.49. The stock had a trading volume of 1,040,000 shares, compared to its average volume of 1,140,000. Karmin Exploration Inc. has a twelve month low of C$38.39 and a twelve month high of C$49.38.
Karmin Exploration (NYSE:KAR) last announced its quarterly earnings data on Tuesday, October 31st. The company reported C$0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.51 by C$0.06. The company had revenue of C$843.00 million for the quarter, compared to analyst estimates of C$846.42 million. Karmin Exploration had a return on equity of 15.87% and a net margin of 6.67%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.35 per share. This is a positive change from Karmin Exploration’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 2.89%.
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In related news, COO Donald S. Gottwald sold 10,000 shares of Karmin Exploration stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of C$43.68, for a total transaction of C$436,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
About Karmin Exploration
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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