AHL Partners LLP Invests $4.74 Million in KAR Auction Services, Inc (KAR)

AHL Partners LLP purchased a new position in KAR Auction Services, Inc (NYSE:KAR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 112,891 shares of the specialty retailer’s stock, valued at approximately $4,738,000. AHL Partners LLP owned about 0.08% of KAR Auction Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KAR. Acrospire Investment Management LLC purchased a new position in shares of KAR Auction Services during the second quarter worth $118,000. Tower Research Capital LLC TRC raised its holdings in shares of KAR Auction Services by 378.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock worth $130,000 after purchasing an additional 2,346 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of KAR Auction Services during the second quarter worth $150,000. SG Americas Securities LLC purchased a new position in shares of KAR Auction Services during the first quarter worth $162,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of KAR Auction Services by 105.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after purchasing an additional 2,087 shares during the last quarter. 99.26% of the stock is owned by institutional investors and hedge funds.

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In other news, CEO John W. Kett sold 10,011 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total transaction of $420,562.11. Following the completion of the transaction, the chief executive officer now directly owns 65,982 shares in the company, valued at $2,771,903.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,031 shares of company stock valued at $858,249. Corporate insiders own 1.30% of the company’s stock.

KAR has been the subject of several recent research reports. Zacks Investment Research cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stephens lowered shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $51.00 to $48.00 in a research report on Thursday, September 7th. Jefferies Group LLC restated a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a research report on Tuesday, September 12th. Gabelli began coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price target on the stock. Finally, BidaskClub upgraded shares of KAR Auction Services from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.50.

Shares of KAR Auction Services, Inc (NYSE:KAR) opened at 47.95 on Tuesday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 29.42 and a beta of 1.07. KAR Auction Services, Inc has a 12 month low of $38.16 and a 12 month high of $48.65. The stock has a 50 day moving average of $46.34 and a 200 day moving average of $43.65.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The firm had revenue of $858.00 million during the quarter, compared to analyst estimates of $850.67 million. During the same period in the previous year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts expect that KAR Auction Services, Inc will post $2.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.

KAR Auction Services Profile

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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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