Bronfman E.L. Rothschild L.P. lessened its holdings in KAR Auction Services, Inc (NYSE:KAR) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,346 shares of the specialty retailer’s stock after selling 1,551 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in KAR Auction Services were worth $140,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in KAR. Toronto Dominion Bank increased its stake in KAR Auction Services by 7.2% in the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after purchasing an additional 190 shares during the period. Tower Research Capital LLC TRC increased its stake in KAR Auction Services by 378.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after purchasing an additional 2,346 shares during the period. CENTRAL TRUST Co acquired a new position in KAR Auction Services in the second quarter valued at $150,000. SG Americas Securities LLC purchased a new stake in shares of KAR Auction Services in the first quarter valued at about $162,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of KAR Auction Services by 24.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,325 shares of the specialty retailer’s stock valued at $233,000 after acquiring an additional 1,050 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.
In related news, CEO John W. Kett sold 10,011 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the sale, the chief executive officer now owns 65,982 shares in the company, valued at approximately $2,771,903.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were 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. In the last quarter, insiders have sold 30,039 shares of company stock worth $1,279,186. Company insiders own 1.30% of the company’s stock.
Shares of KAR Auction Services, Inc (NYSE:KAR) traded up 0.076% on Friday, hitting $45.815. 75,349 shares of the stock traded hands. The stock has a 50-day moving average price of $43.89 and a 200 day moving average price of $43.30. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 28.107 and a beta of 1.10. KAR Auction Services, Inc has a 12-month low of $38.16 and a 12-month high of $47.03.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $858.00 million for the quarter, compared to analysts’ expectations of $850.67 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that KAR Auction Services, Inc will post $2.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 78.53%.
A number of analysts recently commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub cut shares of KAR Auction Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Gabelli started coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Stephens lowered shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $51.00 to $48.00 in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $52.75.
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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).
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