Teacher Retirement System of Texas lessened its stake in KAR Auction Services Inc (NYSE:KAR) by 46.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,231 shares of the specialty retailer’s stock after selling 41,109 shares during the quarter. Teacher Retirement System of Texas’ holdings in KAR Auction Services were worth $2,386,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in KAR. Thompson Siegel & Walmsley LLC boosted its holdings in shares of KAR Auction Services by 139,965.7% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 588,276 shares of the specialty retailer’s stock valued at $28,084,000 after purchasing an additional 587,856 shares during the last quarter. Reinhart Partners Inc. acquired a new position in shares of KAR Auction Services in the 3rd quarter valued at $25,515,000. River Road Asset Management LLC boosted its holdings in shares of KAR Auction Services by 43.4% in the 3rd quarter. River Road Asset Management LLC now owns 1,267,728 shares of the specialty retailer’s stock valued at $60,521,000 after purchasing an additional 383,850 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of KAR Auction Services by 11.1% in the 3rd quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock valued at $142,612,000 after purchasing an additional 302,029 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of KAR Auction Services in the 3rd quarter valued at $11,850,000. Institutional investors own 97.65% of the company’s stock.
KAR Auction Services Inc (KAR) opened at $50.82 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market cap of $6,829.52, a price-to-earnings ratio of 19.25, a P/E/G ratio of 1.61 and a beta of 1.10. KAR Auction Services Inc has a 1-year low of $40.27 and a 1-year high of $55.19.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.10. The business had revenue of $890.40 million for the quarter, compared to analyst estimates of $882.22 million. KAR Auction Services had a net margin of 10.47% and a return on equity of 23.83%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. research analysts forecast that KAR Auction Services Inc will post 2.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Thursday, March 22nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 2.75%. KAR Auction Services’s payout ratio is 53.03%.
KAR has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report 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 report on Thursday, November 2nd. Finally, Stephens set a $57.00 price target on shares of KAR Auction Services and gave the company a “hold” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.40.
In related news, EVP Lisa A. Price sold 6,563 shares of KAR Auction Services stock in a transaction on Friday, January 19th. The shares were sold at an average price of $54.05, for a total transaction of $354,730.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.
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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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