Dimensional Fund Advisors LP lowered its position in shares of KAR Auction Services Inc. (NYSE:KAR) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,177,599 shares of the company’s stock after selling 106,588 shares during the period. Dimensional Fund Advisors LP owned 0.85% of KAR Auction Services worth $49,149,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of KAR. Bank of Montreal Can bought a new position in KAR Auction Services during the second quarter valued at approximately $137,000. Parametrica Management Ltd bought a new position in KAR Auction Services during the second quarter valued at approximately $206,000. CIBC World Markets Inc. bought a new position in KAR Auction Services during the second quarter valued at approximately $237,000. Pitcairn Co. raised its position in KAR Auction Services by 0.4% in the second quarter. Pitcairn Co. now owns 6,896 shares of the company’s stock valued at $288,000 after buying an additional 25 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position in KAR Auction Services by 11.1% in the second quarter. Fox Run Management L.L.C. now owns 7,000 shares of the company’s stock valued at $292,000 after buying an additional 700 shares in the last quarter.
Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 43.57 on Monday. The company has a market cap of $6.01 billion, a P/E ratio of 27.27 and a beta of 1.37. The stock’s 50 day moving average is $42.57 and its 200 day moving average is $40.77. KAR Auction Services Inc. has a 1-year low of $31.54 and a 1-year high of $44.10.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $771.80 million for the quarter, compared to analysts’ expectations of $757.67 million. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. On average, analysts predict that KAR Auction Services Inc. will post $2.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.16 dividend on an annualized basis and a yield of 2.67%. KAR Auction Services’s dividend payout ratio (DPR) is presently 72.50%.
Several research analysts recently commented on the company. Northcoast Research lowered KAR Auction Services from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Jefferies Group lifted their price target on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Finally, Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.71.
In other KAR Auction Services news, EVP Benjamin Skuy sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $42.10, for a total transaction of $631,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa A. Price sold 5,140 shares of the stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $44.00, for a total transaction of $226,160.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
KAR Auction Services Company 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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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