KAR Auction Services, Inc (KAR) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in shares of KAR Auction Services, Inc (NYSE:KAR) by 37.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,123 shares of the specialty retailer’s stock after acquiring an additional 1,408 shares during the quarter. SG Americas Securities LLC’s holdings in KAR Auction Services were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in KAR Auction Services by 7.2% during the 1st quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after acquiring an additional 190 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in KAR Auction Services by 378.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after acquiring an additional 2,346 shares during the last quarter. CENTRAL TRUST Co bought a new position in KAR Auction Services during the 2nd quarter valued at $150,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in KAR Auction Services by 24.6% during the 1st 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 during the last quarter. Finally, Vident Investment Advisory LLC bought a new position in KAR Auction Services during the 1st quarter valued at $236,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total transaction of $436,800.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John W. Kett sold 10,011 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total transaction of $420,562.11. Following the transaction, the chief executive officer now owns 65,982 shares in the company, valued at $2,771,903.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,039 shares of company stock worth $1,279,186. Corporate insiders own 1.30% of the company’s stock.

A number of research analysts have commented on KAR shares. Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $51.00 to $48.00 in a research note on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a research note on Tuesday, September 12th. Gabelli started coverage on shares of KAR Auction Services in a research note on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective on the stock. BidaskClub upgraded shares of KAR Auction Services from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $52.75.

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KAR Auction Services, Inc (NYSE:KAR) opened at 45.30 on Wednesday. The company has a market capitalization of $6.22 billion, a P/E ratio of 27.79 and a beta of 1.10. KAR Auction Services, Inc has a 52-week low of $38.16 and a 52-week high of $47.03. The stock has a 50 day moving average of $44.16 and a 200-day moving average of $43.28.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a yield of 2.83%. KAR Auction Services’s payout ratio is presently 78.53%.

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

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

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