SeaCrest Wealth Management LLC Buys New Position in KAR Auction Services Inc (KAR)

SeaCrest Wealth Management LLC bought a new position in shares of KAR Auction Services Inc (NYSE:KAR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,031 shares of the specialty retailer’s stock, valued at approximately $103,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in KAR Auction Services in the fourth quarter valued at approximately $105,000. Cerebellum GP LLC purchased a new position in KAR Auction Services in the fourth quarter valued at approximately $127,000. KBC Group NV increased its stake in KAR Auction Services by 81.5% in the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock valued at $129,000 after purchasing an additional 1,211 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in KAR Auction Services by 105.6% in the second 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in KAR Auction Services by 9.4% in the second 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 last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

KAR Auction Services Inc (KAR) opened at $52.02 on Friday. The company has a market cap of $7,036.49, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. KAR Auction Services Inc has a one year low of $40.27 and a one year high of $55.19. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Several equities analysts have commented on KAR shares. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Gabelli lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, November 2nd. JPMorgan Chase & Co. increased their price target 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. Finally, Stephens set a $57.00 price target on shares of KAR Auction Services and gave the company a “hold” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. KAR Auction Services has an average rating of “Buy” and an average price target of $54.40.

In other news, EVP Lisa A. Price sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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. Insiders sold 28,563 shares of company stock worth $1,448,530 over the last quarter. 1.30% of the stock is currently owned by insiders.

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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).

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

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