First National Bank of Omaha Has $6.36 Million Position in KAR Auction Services Inc (KAR)

First National Bank of Omaha reduced its position in KAR Auction Services Inc (NYSE:KAR) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,470 shares of the specialty retailer’s stock after selling 1,978 shares during the period. First National Bank of Omaha owned about 0.08% of KAR Auction Services worth $6,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its position in KAR Auction Services by 19.5% during the second quarter. BlackRock Inc. now owns 7,506,952 shares of the specialty retailer’s stock worth $411,380,000 after acquiring an additional 1,226,197 shares during the period. Mawer Investment Management Ltd. raised its position in KAR Auction Services by 3.2% during the second quarter. Mawer Investment Management Ltd. now owns 3,385,579 shares of the specialty retailer’s stock worth $185,530,000 after acquiring an additional 103,842 shares during the period. Wells Fargo & Company MN raised its position in KAR Auction Services by 4.7% during the second quarter. Wells Fargo & Company MN now owns 2,892,585 shares of the specialty retailer’s stock worth $158,513,000 after acquiring an additional 129,973 shares during the period. Frontier Capital Management Co. LLC raised its position in KAR Auction Services by 5.9% during the second quarter. Frontier Capital Management Co. LLC now owns 2,865,369 shares of the specialty retailer’s stock worth $157,022,000 after acquiring an additional 158,515 shares during the period. Finally, Bessemer Group Inc. raised its position in KAR Auction Services by 1.1% during the second quarter. Bessemer Group Inc. now owns 2,654,412 shares of the specialty retailer’s stock worth $145,461,000 after acquiring an additional 27,925 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.

A number of research firms have weighed in on KAR. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, August 7th. Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research report on Monday, August 6th. ValuEngine upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Robert W. Baird upped their price objective on shares of KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, SunTrust Banks set a $70.00 price objective on shares of KAR Auction Services and gave the stock a “buy” rating in a research report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $65.29.

Shares of NYSE KAR opened at $58.49 on Tuesday. The stock has a market capitalization of $7.81 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.76. KAR Auction Services Inc has a 52 week low of $47.43 and a 52 week high of $64.55.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $956.60 million during the quarter, compared to analysts’ expectations of $923.01 million. KAR Auction Services had a net margin of 11.50% and a return on equity of 26.15%. As a group, equities research analysts predict that KAR Auction Services Inc will post 3 EPS for the current fiscal year.

In other news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $62.98, for a total value of $629,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James P. Hallett sold 150,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $62.11, for a total transaction of $9,316,500.00. The disclosure for this sale can be found here. Insiders sold 277,560 shares of company stock valued at $17,295,354 over the last quarter. Company insiders own 1.29% of the company’s stock.

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KAR Auction Services Company 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.

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

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