KAR Auction Services, Inc. (NYSE:KAR) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its holdings in KAR Auction Services, Inc. (NYSE:KAR – Get Rating) by 3.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 419,680 shares of the specialty retailer’s stock after selling 12,925 shares during the quarter. Peregrine Capital Management LLC’s holdings in KAR Auction Services were worth $5,477,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KAR. Citigroup Inc. raised its position in shares of KAR Auction Services by 6.7% in the first quarter. Citigroup Inc. now owns 107,473 shares of the specialty retailer’s stock valued at $1,940,000 after buying an additional 6,789 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in KAR Auction Services during the first quarter worth about $206,000. MetLife Investment Management LLC increased its position in KAR Auction Services by 55.1% during the first quarter. MetLife Investment Management LLC now owns 64,805 shares of the specialty retailer’s stock worth $1,170,000 after purchasing an additional 23,021 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in KAR Auction Services by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 104,446 shares of the specialty retailer’s stock worth $1,885,000 after purchasing an additional 12,878 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in KAR Auction Services by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 107,209 shares of the specialty retailer’s stock worth $1,987,000 after purchasing an additional 2,031 shares during the last quarter.

KAR Auction Services Trading Down 2.4 %

Shares of KAR stock opened at $12.66 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $1.38 billion, a PE ratio of 10.38 and a beta of 1.47. The company has a 50-day moving average of $14.09 and a two-hundred day moving average of $13.58. KAR Auction Services, Inc. has a 1-year low of $11.15 and a 1-year high of $19.05.

Wall Street Analysts Forecast Growth

KAR has been the subject of several recent analyst reports. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of KAR Auction Services in a research report on Thursday, February 23rd. StockNews.com cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Wednesday. Stephens restated an “equal weight” rating and set a $13.00 price objective on shares of KAR Auction Services in a research report on Wednesday, February 22nd. Finally, Bank of America cut shares of KAR Auction Services from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $23.00 to $17.00 in a research report on Monday, January 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.17.

KAR Auction Services Profile

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KAR Auction Services, Inc engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.