Thompson Siegel & Walmsley LLC lifted its holdings in shares of KAR Auction Services, Inc (NYSE:KAR) by 139,965.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 588,276 shares of the specialty retailer’s stock after acquiring an additional 587,856 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.43% of KAR Auction Services worth $28,084,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of KAR. Archford Capital Strategies LLC boosted its stake in KAR Auction Services by 832.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 832 shares during the period. Acrospire Investment Management LLC bought a new stake in KAR Auction Services in the 2nd quarter valued at $118,000. PNC Financial Services Group Inc. boosted its stake in KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after purchasing an additional 2,087 shares during the period. The Manufacturers Life Insurance Company boosted its stake in KAR Auction Services by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 363 shares during the period. Finally, Oakbrook Investments LLC bought a new stake in KAR Auction Services in the 3rd quarter valued at $218,000. Institutional investors own 99.22% of the company’s stock.
A number of research firms have recently weighed in on KAR. Zacks Investment Research upgraded 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. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, November 2nd. Jefferies Group reissued a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a report on Tuesday, September 12th. J P Morgan Chase & Co upped their target price on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Stephens cut KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.20.
In related news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total transaction of $481,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Shares of KAR Auction Services, Inc (NYSE:KAR) traded up $0.20 during trading on Thursday, hitting $50.49. The company had a trading volume of 825,389 shares, compared to its average volume of 947,177. The company has a market cap of $6,863.34, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. KAR Auction Services, Inc has a 52 week low of $40.27 and a 52 week high of $51.01.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $843.00 million for the quarter, compared to analyst estimates of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. analysts predict that KAR Auction Services, Inc will post 2.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 75.29%.
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KAR Auction Services Company Profile
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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