Two Sigma Investments LP lessened its stake in KAR Auction Services Inc (NYSE:KAR) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 773,928 shares of the specialty retailer’s stock after selling 141,459 shares during the period. Two Sigma Investments LP owned 0.57% of KAR Auction Services worth $39,091,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of KAR. SeaCrest Wealth Management LLC acquired a new position in KAR Auction Services during the 4th quarter worth approximately $103,000. SG Americas Securities LLC acquired a new stake in shares of KAR Auction Services in the 4th quarter worth approximately $105,000. Cerebellum GP LLC acquired a new stake in shares of KAR Auction Services in the 4th quarter worth approximately $127,000. KBC Group NV lifted its stake in KAR Auction Services by 81.5% in the 3rd 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. Finally, Assetmark Inc. lifted its stake in KAR Auction Services by 336.4% in the 4th quarter. Assetmark Inc. now owns 3,116 shares of the specialty retailer’s stock valued at $157,000 after buying an additional 2,402 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.
In other news, EVP Lisa A. Price sold 2,188 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $54.00, for a total transaction of $118,152.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $54.96, for a total transaction of $549,600.00. The disclosure for this sale can be found here. Insiders have sold 62,751 shares of company stock valued at $3,495,282 in the last three months. 1.30% of the stock is owned by insiders.
KAR Auction Services Inc (NYSE:KAR) opened at $55.91 on Wednesday. KAR Auction Services Inc has a 12-month low of $40.27 and a 12-month high of $56.75. The stock has a market cap of $7,543.03, a P/E ratio of 22.72, a PEG ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.31 and a current ratio of 1.31.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. KAR Auction Services had a net margin of 10.47% and a return on equity of 23.61%. The business had revenue of $890.40 million during the quarter, compared to the consensus estimate of $882.22 million. During the same period in the previous year, the firm posted $0.45 earnings per share. KAR Auction Services’s revenue for the quarter was up 9.4% compared to the same quarter last year. research analysts anticipate that KAR Auction Services Inc will post 2.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, March 21st. KAR Auction Services’s dividend payout ratio is 53.03%.
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KAR Auction Services 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).
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