KAR Auction Services Inc. (KAR) EVP Lisa A. Price Sells 5,140 Shares
KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $44.00, for a total value of $226,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. KAR Auction Services Inc. has a one year low of $31.54 and a one year high of $44.10. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 27.19 and a beta of 1.37. The firm’s 50-day moving average price is $42.57 and its 200-day moving average price is $40.77.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $771.80 million for the quarter, compared to the consensus estimate of $757.67 million. During the same period last year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts anticipate that KAR Auction Services Inc. will post $2.13 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st were paid 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 dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio (DPR) is currently 72.50%.
A number of research analysts have recently issued reports on KAR shares. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, July 6th. Northcoast Research downgraded KAR Auction Services from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. reissued a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, August 3rd. Jefferies Group boosted their price objective on KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Macquarie reissued an “outperform” rating on shares of KAR Auction Services in a research note on Monday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.71.
Several hedge funds and other institutional investors have recently made changes to their positions in KAR. Pitcairn Co. boosted its position in shares of KAR Auction Services by 0.4% in the second quarter. Pitcairn Co. now owns 6,896 shares of the company’s stock worth $288,000 after buying an additional 25 shares during the period. Wealthsource Partners LLC raised its stake in KAR Auction Services by 2.3% in the second quarter. Wealthsource Partners LLC now owns 12,379 shares of the company’s stock worth $517,000 after buying an additional 275 shares in the last quarter. Meeder Asset Management Inc. raised its stake 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 in the last quarter. Advisors Asset Management Inc. raised its stake in KAR Auction Services by 6.0% in the second quarter. Advisors Asset Management Inc. now owns 7,981 shares of the company’s stock worth $333,000 after buying an additional 455 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake 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 worth $292,000 after buying an additional 700 shares in the last quarter.
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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