Hsbc Holdings PLC raised its position in KAR Auction Services, Inc. (NYSE:KAR) by 26.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,474 shares of the specialty retailer’s stock after buying an additional 8,170 shares during the quarter. Hsbc Holdings PLC’s holdings in KAR Auction Services were worth $735,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of KAR. Public Sector Pension Investment Board lifted its holdings in shares of KAR Auction Services by 89.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 108,088 shares of the specialty retailer’s stock valued at $1,556,000 after buying an additional 51,088 shares during the last quarter. Seelaus Asset Management LLC lifted its position in shares of KAR Auction Services by 64.5% in the fourth quarter. Seelaus Asset Management LLC now owns 34,700 shares of the specialty retailer’s stock worth $646,000 after buying an additional 13,600 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in shares of KAR Auction Services during the 4th quarter worth about $372,000. Avantax Advisory Services Inc. acquired a new position in shares of KAR Auction Services during the 4th quarter valued at about $363,000. Finally, Renaissance Technologies LLC increased its position in KAR Auction Services by 315.5% in the 4th quarter. Renaissance Technologies LLC now owns 502,800 shares of the specialty retailer’s stock worth $9,357,000 after buying an additional 381,800 shares during the period.
A number of brokerages recently issued reports on KAR. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, February 18th. Guggenheim downgraded shares of KAR Auction Services from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a report on Wednesday, February 17th. Truist cut shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research note on Wednesday, February 17th. Finally, Stephens restated an “equal weight” rating and set a $16.00 price target (down from $23.00) on shares of KAR Auction Services in a research note on Thursday, February 25th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.11.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Monday, February 15th. The specialty retailer reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.29). The company had revenue of $529.60 million during the quarter, compared to the consensus estimate of $566.66 million. KAR Auction Services had a net margin of 1.61% and a return on equity of 6.50%. Sell-side analysts forecast that KAR Auction Services, Inc. will post 0.93 EPS for the current year.
KAR Auction Services Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions 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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