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 firm’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $57.97, for a total value of $579,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Donald S. Gottwald also recently made the following trade(s):

  • On Tuesday, June 12th, Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock. The stock was sold at an average price of $55.20, for a total value of $552,000.00.
  • On Tuesday, May 15th, Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock. The stock was sold at an average price of $53.39, for a total value of $533,900.00.

KAR traded up $0.92 during trading on Thursday, reaching $59.62. The company’s stock had a trading volume of 1,656,978 shares, compared to its average volume of 938,429. KAR Auction Services Inc has a 52-week low of $40.37 and a 52-week high of $59.88. The firm has a market capitalization of $7.90 billion, a PE ratio of 23.48, a P/E/G ratio of 1.40 and a beta of 1.08. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.75.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, May 8th. The specialty retailer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.06. KAR Auction Services had a return on equity of 24.93% and a net margin of 10.81%. The company had revenue of $950.50 million for the quarter, compared to analyst estimates of $923.66 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. sell-side analysts predict that KAR Auction Services Inc will post 3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 5th. Shareholders of record on Thursday, June 21st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Wednesday, June 20th. KAR Auction Services’s dividend payout ratio is presently 56.00%.

Several hedge funds have recently bought and sold shares of the company. Summit Trail Advisors LLC lifted its position in shares of KAR Auction Services by 5,312.3% during the 1st quarter. Summit Trail Advisors LLC now owns 6,593,747 shares of the specialty retailer’s stock valued at $6,594,000 after acquiring an additional 6,471,918 shares during the period. Mawer Investment Management Ltd. lifted its position in shares of KAR Auction Services by 256.7% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,281,737 shares of the specialty retailer’s stock valued at $177,870,000 after acquiring an additional 2,361,727 shares during the period. Schroder Investment Management Group lifted its position in shares of KAR Auction Services by 6.4% during the 1st quarter. Schroder Investment Management Group now owns 3,048,032 shares of the specialty retailer’s stock valued at $165,203,000 after acquiring an additional 182,416 shares during the period. Wells Fargo & Company MN lifted its position in shares of KAR Auction Services by 7.1% during the 1st quarter. Wells Fargo & Company MN now owns 2,762,612 shares of the specialty retailer’s stock valued at $149,734,000 after acquiring an additional 183,166 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of KAR Auction Services by 2.5% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,706,854 shares of the specialty retailer’s stock valued at $146,711,000 after acquiring an additional 65,562 shares during the period. Institutional investors own 99.48% of the company’s stock.

KAR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on KAR Auction Services from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, March 19th. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a report on Wednesday, March 21st. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Finally, SunTrust Banks initiated coverage on KAR Auction Services in a report on Thursday, March 22nd. They set a “buy” rating and a $65.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. KAR Auction Services currently has an average rating of “Buy” and a consensus price target of $58.78.

About KAR Auction Services

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

Insider Buying and Selling by Quarter for KAR Auction Services (NYSE:KAR)

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