KAR Auction Services Inc (KAR) Short Interest Update

KAR Auction Services Inc (NYSE:KAR) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 807,505 shares, a growth of 51.7% from the January 12th total of 532,278 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 666,765 shares, the days-to-cover ratio is presently 1.2 days.

KAR Auction Services (KAR) opened at $50.65 on Thursday. KAR Auction Services has a one year low of $40.27 and a one year high of $55.19. The firm has a market cap of $6,803.82, a P/E ratio of 29.79, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35.

Several research analysts recently weighed in on KAR shares. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Wednesday, November 1st. Stephens set a $57.00 price objective on shares of KAR Auction Services and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Gabelli lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.40.

In other news, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total transaction of $582,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa A. Price sold 6,563 shares of KAR Auction Services stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $54.05, for a total transaction of $354,730.15. The disclosure for this sale can be found here. Insiders sold a total of 28,563 shares of company stock valued at $1,448,530 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC boosted its stake in KAR Auction Services by 832.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after acquiring an additional 832 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in KAR Auction Services during the 4th quarter worth approximately $103,000. SG Americas Securities LLC bought a new position in KAR Auction Services during the 4th quarter worth approximately $105,000. Cerebellum GP LLC bought a new position in KAR Auction Services in the fourth quarter valued at approximately $127,000. Finally, KBC Group NV lifted its stake in KAR Auction Services by 81.5% in the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock valued at $129,000 after buying an additional 1,211 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “KAR Auction Services Inc (KAR) Short Interest Update” was published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/15/kar-auction-services-inc-kar-short-interest-update.html.

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).

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply