Insider Selling: KAR Auction Services, Inc (KAR) COO Sells 10,000 Shares of Stock
KAR Auction Services, Inc (NYSE:KAR) COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of KAR Auction Services, Inc (KAR) traded down 0.18% during trading on Thursday, reaching $44.51. The company’s stock had a trading volume of 1,553,931 shares. The stock’s 50 day moving average price is $41.92 and its 200 day moving average price is $43.39. The company has a market cap of $6.11 billion, a PE ratio of 27.31 and a beta of 1.12. KAR Auction Services, Inc has a 52 week low of $38.16 and a 52 week high of $47.03.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858 million for the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities research analysts predict that KAR Auction Services, Inc will post $2.25 EPS for the current year.
The business also recently declared 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. This represents a $1.28 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 78.53%.
A number of research firms recently commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli began coverage on KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. KAR Auction Services has an average rating of “Buy” and a consensus target price of $54.33.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in KAR Auction Services during the second quarter valued at $118,000. Toronto Dominion Bank raised its position in KAR Auction Services by 7.2% in the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after buying an additional 190 shares during the period. Tower Research Capital LLC TRC raised its position in KAR Auction Services by 378.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 2,346 shares during the period. CENTRAL TRUST Co bought a new position in KAR Auction Services during the second quarter valued at $150,000. Finally, SG Americas Securities LLC bought a new position in KAR Auction Services during the first quarter valued at $162,000.
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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.