Nisa Investment Advisors LLC held its stake in shares of KAR Auction Services Inc. (NYSE:KAR) during the second quarter, Holdings Channel reports. The institutional investor owned 2,500 shares of the company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in KAR Auction Services were worth $104,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Quantum Capital Management purchased a new stake in shares of KAR Auction Services during the first quarter valued at $312,000. Aperio Group LLC raised its position in KAR Auction Services by 33.0% in the first quarter. Aperio Group LLC now owns 11,217 shares of the company’s stock worth $428,000 after buying an additional 2,781 shares during the last quarter. Wealthsource Partners LLC bought a new position in KAR Auction Services during the first quarter worth $462,000. Meeder Asset Management Inc. raised its position in KAR Auction Services by 3.7% in the first quarter. Meeder Asset Management Inc. now owns 12,810 shares of the company’s stock worth $488,000 after buying an additional 452 shares during the last quarter. Finally, HBK Investments L P raised its position in KAR Auction Services by 152.7% in the first quarter. HBK Investments L P now owns 19,711 shares of the company’s stock worth $752,000 after buying an additional 11,911 shares during the last quarter.
KAR Auction Services Inc. (NYSE:KAR) traded up 0.84% during mid-day trading on Friday, reaching $43.16. The company had a trading volume of 759,884 shares. KAR Auction Services Inc. has a 1-year low of $31.54 and a 1-year high of $43.91. The firm has a 50-day moving average of $42.22 and a 200 day moving average of $40.54. The company has a market capitalization of $5.95 billion, a PE ratio of 27.01 and a beta of 1.48.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.01. KAR Auction Services had a net margin of 7.79% and a return on equity of 19.03%. The firm earned $771.80 million during the quarter, compared to the consensus estimate of $757.67 million. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, analysts predict that KAR Auction Services Inc. will post $2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, September 19th. KAR Auction Services’s dividend payout ratio is 72.50%.
A number of research firms have weighed in on KAR. Northcoast Research lowered KAR Auction Services from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. Macquarie reaffirmed an “outperform” rating on shares of KAR Auction Services in a report on Monday, August 29th. Susquehanna began coverage on KAR Auction Services in a report on Friday, August 26th. They set a “positive” rating and a $50.00 target price for the company. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, July 6th. Finally, Jefferies Group lifted their target price on KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and five 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 $43.71.
In other KAR Auction Services news, EVP Benjamin Skuy sold 10,000 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $42.74, for a total value of $427,400.00. Following the transaction, the executive vice president now owns 87,420 shares of the company’s stock, valued at $3,736,330.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark E. Hill acquired 12,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $41.78 per share, for a total transaction of $501,360.00. Following the purchase, the director now directly owns 25,500 shares of the company’s stock, valued at $1,065,390. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.
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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