Texas Permanent School Fund purchased a new position in shares of KAR Auction Services Inc (NYSE:KAR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,848 shares of the specialty retailer’s stock, valued at approximately $2,230,000. Texas Permanent School Fund owned approximately 0.07% of KAR Auction Services as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KAR. WINTON GROUP Ltd boosted its position in shares of KAR Auction Services by 82.9% during the second quarter. WINTON GROUP Ltd now owns 12,023 shares of the specialty retailer’s stock worth $301,000 after purchasing an additional 5,450 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in KAR Auction Services by 6.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,464 shares of the specialty retailer’s stock valued at $264,000 after acquiring an additional 565 shares in the last quarter. First Hawaiian Bank lifted its position in KAR Auction Services by 113.1% in the 2nd quarter. First Hawaiian Bank now owns 21,187 shares of the specialty retailer’s stock valued at $530,000 after acquiring an additional 11,244 shares in the last quarter. Raymond James Trust N.A. lifted its position in KAR Auction Services by 8.3% in the 2nd quarter. Raymond James Trust N.A. now owns 17,069 shares of the specialty retailer’s stock valued at $426,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Clear Street Markets LLC bought a new stake in KAR Auction Services in the 2nd quarter valued at $1,366,000. 99.42% of the stock is currently owned by institutional investors.
KAR opened at $21.50 on Friday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 7.26, a P/E/G ratio of 1.43 and a beta of 1.06. KAR Auction Services Inc has a 12 month low of $16.41 and a 12 month high of $28.61. The firm’s fifty day simple moving average is $24.56 and its 200 day simple moving average is $36.11. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.00.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). KAR Auction Services had a net margin of 6.95% and a return on equity of 16.83%. The company had revenue of $701.90 million during the quarter, compared to the consensus estimate of $697.46 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts predict that KAR Auction Services Inc will post 1.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.76 annualized dividend and a yield of 3.53%. KAR Auction Services’s payout ratio is currently 25.68%.
KAR has been the topic of several research reports. CJS Securities cut shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a research report on Thursday. Zacks Investment Research cut shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. KAR Auction Services currently has an average rating of “Hold” and a consensus price target of $33.58.
KAR Auction Services Company 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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