Motley Fool Wealth Management LLC boosted its position in shares of KAR Auction Services Inc (NYSE:KAR) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,030 shares of the specialty retailer’s stock after purchasing an additional 3,030 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.13% of KAR Auction Services worth $10,686,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in KAR Auction Services by 19.5% during the 2nd 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 in the last quarter. Mawer Investment Management Ltd. grew its holdings in KAR Auction Services by 3.2% during the 2nd 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 in the last quarter. Ramsey Quantitative Systems acquired a new position in KAR Auction Services during the 2nd quarter worth $311,000. Richard Bernstein Advisors LLC acquired a new position in KAR Auction Services during the 2nd quarter worth $2,270,000. Finally, Bank of America Corp DE grew its holdings in KAR Auction Services by 97.8% during the 2nd quarter. Bank of America Corp DE now owns 1,477,098 shares of the specialty retailer’s stock worth $80,944,000 after acquiring an additional 730,355 shares in the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.
KAR Auction Services stock opened at $56.54 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.31 and a current ratio of 1.32. KAR Auction Services Inc has a 1 year low of $47.43 and a 1 year high of $64.55. The stock has a market capitalization of $7.49 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). KAR Auction Services had a return on equity of 26.50% and a net margin of 11.62%. The business had revenue of $933.50 million during the quarter, compared to the consensus estimate of $910.43 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that KAR Auction Services Inc will post 2.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. KAR Auction Services’s payout ratio is currently 56.00%.
In other news, insider James E. Money II sold 16,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $62.17, for a total value of $994,720.00. Following the transaction, the insider now directly owns 25,619 shares in the company, valued at approximately $1,592,733.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,560 shares of company stock worth $7,978,854. Insiders own 1.29% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday. ValuEngine lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research set a $70.00 price objective on shares of KAR Auction Services and gave the stock a “buy” rating in a report on Monday, November 5th. Stephens reissued a “hold” rating and set a $60.00 price objective on shares of KAR Auction Services in a report on Thursday, August 9th. Finally, Robert W. Baird raised their price objective on shares of KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $65.29.
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About KAR Auction Services
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.
Further Reading: Outstanding Shares
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