Janus Henderson Group PLC lifted its stake in KAR Auction Services Inc (NYSE:KAR) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,416,468 shares of the specialty retailer’s stock after purchasing an additional 1,052,915 shares during the quarter. Janus Henderson Group PLC owned 2.56% of KAR Auction Services worth $85,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Motco grew its stake in shares of KAR Auction Services by 1,732.4% in the first quarter. Motco now owns 623 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 589 shares during the period. Cornerstone Advisors Inc. purchased a new position in KAR Auction Services in the first quarter worth $46,000. Icon Wealth Partners LLC acquired a new position in shares of KAR Auction Services during the first quarter worth $57,000. Quadrant Capital Group LLC lifted its holdings in shares of KAR Auction Services by 2,902.5% during the 1st quarter. Quadrant Capital Group LLC now owns 1,201 shares of the specialty retailer’s stock valued at $61,000 after purchasing an additional 1,161 shares during the last quarter. Finally, AGF Investments LLC raised its stake in KAR Auction Services by 13.5% in the second quarter. AGF Investments LLC now owns 5,340 shares of the specialty retailer’s stock valued at $134,000 after buying an additional 636 shares during the last quarter.
Several research firms have weighed in on KAR. Zacks Investment Research raised shares of KAR Auction Services from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 29th. ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. SunTrust Banks decreased their price objective on shares of KAR Auction Services from $65.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 1st. Robert W. Baird began coverage on shares of KAR Auction Services in a research note on Friday, June 28th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lowered KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. KAR Auction Services has a consensus rating of “Hold” and a consensus target price of $39.58.
KAR Auction Services stock traded down $0.35 during midday trading on Tuesday, hitting $27.00. 110,405 shares of the stock were exchanged, compared to its average volume of 1,922,588. The stock’s 50-day simple moving average is $25.81 and its 200 day simple moving average is $43.58. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.44 and a beta of 1.09. 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 Inc has a fifty-two week low of $16.41 and a fifty-two week high of $28.61.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.10). KAR Auction Services had a return on equity of 19.93% and a net margin of 7.67%. The firm had revenue of $719.00 million for the quarter, compared to analyst estimates of $692.00 million. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts anticipate that KAR Auction Services Inc will post 1.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.81%. KAR Auction Services’s dividend payout ratio (DPR) is presently 47.30%.
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.
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