Brown Advisory Inc. increased its holdings in KAR Auction Services Inc (NYSE:KAR) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,688 shares of the specialty retailer’s stock after acquiring an additional 3,691 shares during the quarter. Brown Advisory Inc.’s holdings in KAR Auction Services were worth $2,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. W.E. Donoghue & Co. LLC increased its stake in shares of KAR Auction Services by 82.1% in the 3rd quarter. W.E. Donoghue & Co. LLC now owns 16,038 shares of the specialty retailer’s stock worth $957,000 after acquiring an additional 7,233 shares in the last quarter. BlackRock Inc. increased its stake in shares of KAR Auction Services by 19.5% in the 2nd quarter. BlackRock Inc. now owns 7,506,952 shares of the specialty retailer’s stock worth $411,380,000 after acquiring an additional 1,226,197 shares in the last quarter. Mawer Investment Management Ltd. increased its stake in shares of KAR Auction Services by 3.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 3,385,579 shares of the specialty retailer’s stock worth $185,530,000 after acquiring an additional 103,842 shares in the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of KAR Auction Services in the 2nd quarter worth about $2,270,000. Finally, Bank of America Corp DE increased its stake in shares of KAR Auction Services by 97.8% in the 2nd quarter. Bank of America Corp DE now owns 1,477,098 shares of the specialty retailer’s stock worth $80,944,000 after acquiring an additional 730,355 shares in the last quarter. Institutional investors own 97.27% of the company’s stock.
In other news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $62.98, for a total value of $629,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is currently owned by company insiders.
KAR has been the subject of several research reports. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Barrington Research set a $70.00 price objective on shares of KAR Auction Services and gave the company a “buy” rating in a research note on Monday, November 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.29.
NYSE:KAR opened at $51.04 on Friday. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.59 and a beta of 1.13. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. KAR Auction Services Inc has a fifty-two week low of $48.22 and a fifty-two week high of $64.55.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.01). The firm had revenue of $933.50 million for the quarter, compared to the consensus estimate of $910.43 million. KAR Auction Services had a net margin of 11.62% and a return on equity of 26.50%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. Equities research analysts expect that KAR Auction Services Inc will post 2.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.74%. KAR Auction Services’s dividend payout ratio is currently 56.00%.
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KAR Auction Services Profile
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.
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