Insider Selling: Thomas J. Caruso Sells 5,000 Shares of KAR Auction Services Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $30.20, for a total transaction of $151,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of KAR Auction Services (NYSE:KAR) traded up 2.26% during mid-day trading on Tuesday, hitting $30.76. 1,014,333 shares of the company’s stock traded hands. KAR Auction Services has a one year low of $21.05 and a one year high of $32.24. The stock has a 50-day moving average of $29.92 and a 200-day moving average of $29.39. The company has a market cap of $4.300 billion and a price-to-earnings ratio of 71.45.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.04. The company had revenue of $583.80 million for the quarter, compared to the consensus estimate of $581.95 million. During the same quarter last year, the company posted $0.31 earnings per share. KAR Auction Services’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that KAR Auction Services will post $1.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, June 23rd.
KAR has been the subject of a number of recent research reports. Analysts at Ned Davis Research upgraded shares of KAR Auction Services from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. Analysts at JPMorgan Chase & Co. raised their price target on shares of KAR Auction Services from $34.00 to $36.00 in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $32.56.
KAR Auction Services, Inc, is a provider of vehicle auction services in North America. The Company operates in three business segments: ADESA, Inc (NYSE:KAR), Insurance Auto Auctions, Inc (IAAI) and Automotive Finance Corporation (AFC).
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