K.J. Harrison & Partners Inc lowered its stake in KAR Auction Services Inc. (NYSE:KAR) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 25,000 shares of the company’s stock after selling 600 shares during the period. K.J. Harrison & Partners Inc’s holdings in KAR Auction Services were worth $1,044,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of KAR Auction Services by 592.6% in the first quarter. Renaissance Technologies LLC now owns 487,600 shares of the company’s stock valued at $18,597,000 after buying an additional 417,200 shares during the last quarter. First Manhattan Co. acquired a new stake in shares of KAR Auction Services during the second quarter valued at $16,485,000. Teachers Advisors Inc. increased its stake in shares of KAR Auction Services by 271.9% in the first quarter. Teachers Advisors Inc. now owns 415,800 shares of the company’s stock valued at $15,859,000 after buying an additional 303,987 shares during the last quarter. Natixis acquired a new stake in shares of KAR Auction Services during the first quarter valued at $10,527,000. Finally, Bessemer Group Inc. increased its stake in shares of KAR Auction Services by 10.2% in the first quarter. Bessemer Group Inc. now owns 2,248,265 shares of the company’s stock valued at $85,748,000 after buying an additional 208,000 shares during the last quarter.
Shares of KAR Auction Services Inc. (NYSE:KAR) traded up 1.21% on Thursday, hitting $43.48. 963,422 shares of the stock traded hands. The firm’s 50-day moving average is $41.81 and its 200 day moving average is $40.27. The firm has a market cap of $6.00 billion, a P/E ratio of 27.21 and a beta of 1.48. KAR Auction Services Inc. has a 12-month low of $31.54 and a 12-month high of $43.91.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, August 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The company earned $771.80 million during the quarter, compared to analyst estimates of $757.67 million. During the same period in the prior year, the business posted $0.51 earnings per share. KAR Auction Services’s revenue was up 17.2% on a year-over-year basis. Equities research analysts forecast that KAR Auction Services Inc. will post $2.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Wednesday, September 21st will be given a $0.29 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $1.16 annualized dividend and a dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio is presently 72.50%.
Several equities research analysts recently weighed in on KAR shares. Macquarie reaffirmed an “outperform” rating on shares of KAR Auction Services in a research note on Monday, August 29th. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, July 6th. Northcoast Research cut shares of KAR Auction Services from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. Susquehanna initiated coverage on shares of KAR Auction Services in a report on Friday, August 26th. They set a “positive” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.71.
In related news, EVP Benjamin Skuy sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $42.10, for a total value of $631,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Donald S. Gottwald sold 18,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $40.38, for a total transaction of $731,887.50. Following the completion of the transaction, the chief operating officer now owns 1,039 shares in the company, valued at approximately $41,954.82. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
About KAR Auction Services
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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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).
Receive News & Ratings for KAR Auction Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.