According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana. “
KAR Auction Services (NYSE:KAR) traded down 0.04% on Tuesday, hitting $45.32. 1,027,452 shares of the stock traded hands. The company’s 50 day moving average price is $42.79 and its 200-day moving average price is $42.20. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 27.99 and a beta of 1.36. KAR Auction Services has a 52-week low of $31.54 and a 52-week high of $45.42.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Thursday, November 3rd. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. KAR Auction Services had a return on equity of 19.45% and a net margin of 7.58%. The company earned $773.80 million during the quarter, compared to the consensus estimate of $770.84 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts forecast that KAR Auction Services will post $2.08 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Wednesday, December 21st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, December 19th. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.29. KAR Auction Services’s dividend payout ratio (DPR) is currently 79.01%.
In related news, COO Donald S. Gottwald sold 18,125 shares of KAR Auction Services stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $38.51, for a total transaction of $697,993.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kelly Peter sold 15,000 shares of KAR Auction Services stock in a transaction on Monday, December 5th. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP boosted its position in KAR Auction Services by 100.0% in the second quarter. Artemis Investment Management LLP now owns 386,200 shares of the company’s stock worth $16,126,000 after buying an additional 193,100 shares during the period. Nationwide Fund Advisors boosted its position in KAR Auction Services by 2.9% in the third quarter. Nationwide Fund Advisors now owns 368,886 shares of the company’s stock worth $15,921,000 after buying an additional 10,293 shares during the period. GW&K Investment Management LLC boosted its position in KAR Auction Services by 6.6% in the second quarter. GW&K Investment Management LLC now owns 786,896 shares of the company’s stock worth $32,845,000 after buying an additional 48,624 shares during the period. UBS Asset Management Americas Inc. boosted its position in KAR Auction Services by 2.7% in the third quarter. UBS Asset Management Americas Inc. now owns 110,657 shares of the company’s stock worth $4,776,000 after buying an additional 2,900 shares during the period. Finally, Kalmar Investments Inc. DE purchased a new position in KAR Auction Services during the second quarter worth $12,724,000.
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).
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