Hsbc Holdings PLC lowered its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 31.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,995 shares of the specialty retailer’s stock after selling 9,981 shares during the quarter. Hsbc Holdings PLC’s holdings in KAR Auction Services were worth $1,043,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KAR. Riverview Trust Co bought a new position in shares of KAR Auction Services during the 4th quarter valued at approximately $33,000. Private Capital Group LLC grew its position in KAR Auction Services by 32.8% in the 4th quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after acquiring an additional 245 shares during the last quarter. IFP Advisors Inc grew its position in KAR Auction Services by 13.4% in the 4th quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock valued at $79,000 after acquiring an additional 199 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in KAR Auction Services in the 3rd quarter valued at $100,000. Finally, Rehmann Capital Advisory Group grew its position in KAR Auction Services by 9,598.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 6,207 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 6,143 shares during the last quarter. 99.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KAR Auction Services stock opened at $48.52 on Friday. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.58 and a beta of 1.10. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.26 and a current ratio of 1.26. KAR Auction Services Inc has a 52 week low of $43.32 and a 52 week high of $64.55.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, February 19th. The specialty retailer reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $929.00 million for the quarter, compared to the consensus estimate of $936.37 million. KAR Auction Services had a return on equity of 26.46% and a net margin of 8.70%. On average, equities analysts expect that KAR Auction Services Inc will post 2.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 22nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, March 21st. KAR Auction Services’s payout ratio is 47.30%.
KAR has been the topic of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 price objective on shares of KAR Auction Services in a research report on Wednesday, February 20th. Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, February 20th. SunTrust Banks cut their price objective on KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. Finally, Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Tuesday, November 27th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $63.00.
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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: Percentage Gainers
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