Insider Selling: KAR Auction Services, Inc (NYSE:KAR) COO Sells 10,000 Shares of Stock

KAR Auction Services, Inc (NYSE:KAR) COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total transaction of $481,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

KAR Auction Services, Inc (NYSE KAR) traded up $0.46 on Monday, reaching $50.65. 1,155,807 shares of the company traded hands, compared to its average volume of 950,202. KAR Auction Services, Inc has a 1-year low of $40.27 and a 1-year high of $50.92. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $6,788.94, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The business had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. KAR Auction Services’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. sell-side analysts anticipate that KAR Auction Services, Inc will post 2.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio is 75.29%.

A number of equities research analysts have recently issued reports on KAR shares. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, November 1st. Jefferies Group reissued a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a research report on Tuesday, September 12th. Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $51.00 to $48.00 in a research report on Thursday, September 7th. Gabelli cut shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, November 2nd. Finally, J P Morgan Chase & Co upped their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.20.

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of KAR Auction Services by 8.6% in the third quarter. Public Employees Retirement System of Ohio now owns 81,601 shares of the specialty retailer’s stock worth $3,896,000 after acquiring an additional 6,437 shares during the last quarter. Wealthsource Partners LLC lifted its holdings in shares of KAR Auction Services by 22.7% in the third quarter. Wealthsource Partners LLC now owns 9,590 shares of the specialty retailer’s stock worth $458,000 after acquiring an additional 1,772 shares during the last quarter. RWC Asset Management LLP bought a new position in shares of KAR Auction Services in the third quarter worth about $10,598,000. Sterling Capital Management LLC lifted its holdings in shares of KAR Auction Services by 15.2% in the third quarter. Sterling Capital Management LLC now owns 748,383 shares of the specialty retailer’s stock worth $35,728,000 after acquiring an additional 98,734 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new position in shares of KAR Auction Services in the third quarter worth about $233,000. 99.22% of the stock is owned by hedge funds and other institutional investors.

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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).

Insider Buying and Selling by Quarter for KAR Auction Services (NYSE:KAR)

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