Dynamic Technology Lab Private Ltd Boosts Holdings in KAR Auction Services Inc (KAR)

Dynamic Technology Lab Private Ltd raised its position in KAR Auction Services Inc (NYSE:KAR) by 38.7% during the 1st quarter, Holdings Channel reports. The firm owned 23,821 shares of the specialty retailer’s stock after acquiring an additional 6,651 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in KAR Auction Services were worth $1,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KAR. Summit Trail Advisors LLC lifted its position in shares of KAR Auction Services by 0.9% in the first quarter. Summit Trail Advisors LLC now owns 122,908 shares of the specialty retailer’s stock valued at $6,594,000 after acquiring an additional 1,079 shares in the last quarter. Aperio Group LLC lifted its position in shares of KAR Auction Services by 3.6% in the fourth quarter. Aperio Group LLC now owns 31,276 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 1,099 shares in the last quarter. Amalgamated Bank lifted its position in shares of KAR Auction Services by 4.2% in the fourth quarter. Amalgamated Bank now owns 27,041 shares of the specialty retailer’s stock valued at $1,366,000 after acquiring an additional 1,101 shares in the last quarter. Atria Investments LLC lifted its position in shares of KAR Auction Services by 14.4% in the first quarter. Atria Investments LLC now owns 9,140 shares of the specialty retailer’s stock valued at $495,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of KAR Auction Services by 15.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 8,829 shares of the specialty retailer’s stock valued at $479,000 after acquiring an additional 1,168 shares in the last quarter. 99.46% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on KAR. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research report on Monday, May 7th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. ValuEngine downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Gabelli upgraded KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Bank of America upped their price objective on KAR Auction Services from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, March 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. KAR Auction Services presently has an average rating of “Buy” and a consensus target price of $58.78.

NYSE KAR opened at $55.16 on Friday. KAR Auction Services Inc has a twelve month low of $40.27 and a twelve month high of $56.75. The stock has a market cap of $7.44 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.75.

KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, May 8th. The specialty retailer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. KAR Auction Services had a return on equity of 24.93% and a net margin of 10.81%. The firm had revenue of $950.50 million for the quarter, compared to the consensus estimate of $923.66 million. During the same period in the prior year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts anticipate that KAR Auction Services Inc will post 2.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Thursday, June 21st will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, June 20th. This represents a $1.40 annualized dividend and a yield of 2.54%. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.

In other news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $55.20, for a total value of $552,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rebecca C. Polak sold 39,589 shares of the firm’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $55.20, for a total value of $2,185,312.80. Following the completion of the transaction, the insider now owns 51,041 shares in the company, valued at $2,817,463.20. The disclosure for this sale can be found here. Insiders have sold 103,829 shares of company stock worth $5,706,625 over the last quarter. 1.29% of the stock is currently owned by company insiders.

KAR Auction Services Profile

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

Want to see what other hedge funds are holding KAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KAR Auction Services Inc (NYSE:KAR).

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

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply