KAR Auction Services, Inc (KAR) Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its stake in shares of KAR Auction Services, Inc (NYSE:KAR) by 51.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,953 shares of the specialty retailer’s stock after selling 40,910 shares during the period. Engineers Gate Manager LP’s holdings in KAR Auction Services were worth $1,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KAR. Janus Henderson Group PLC bought a new position in KAR Auction Services during the 2nd quarter valued at about $69,833,000. Principal Financial Group Inc. lifted its stake in KAR Auction Services by 18.6% during the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after acquiring an additional 918,735 shares during the period. River Road Asset Management LLC bought a new position in KAR Auction Services during the 2nd quarter valued at about $37,096,000. Thompson Siegel & Walmsley LLC lifted its stake in KAR Auction Services by 139,965.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 588,276 shares of the specialty retailer’s stock valued at $28,084,000 after acquiring an additional 587,856 shares during the period. Finally, Reinhart Partners Inc. bought a new position in KAR Auction Services during the 3rd quarter valued at about $25,515,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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

In other news, COO Donald S. Gottwald sold 10,000 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Benjamin Skuy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total transaction of $582,000.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Shares of KAR Auction Services, Inc (NYSE KAR) opened at $51.25 on Friday. KAR Auction Services, Inc has a 52-week low of $40.27 and a 52-week high of $51.28. The company has a market cap of $6,932.33, a PE ratio of 22.38, a PEG ratio of 1.61 and a beta of 1.07. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.06. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The firm had revenue of $843.00 million during the quarter, compared to analyst estimates of $846.42 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts expect 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. Stockholders of record on Wednesday, December 20th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 2.73%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio is presently 75.29%.

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KAR Auction Services 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).

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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