First Hawaiian Bank cut its holdings in shares of KAR Auction Services Inc (NYSE:KAR) by 10.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,879 shares of the specialty retailer’s stock after selling 2,308 shares during the period. First Hawaiian Bank’s holdings in KAR Auction Services were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of KAR. Cambridge Investment Research Advisors Inc. increased its holdings in KAR Auction Services by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,065 shares of the specialty retailer’s stock valued at $414,000 after buying an additional 588 shares in the last quarter. Baskin Financial Services Inc. purchased a new position in KAR Auction Services in the second quarter valued at $260,000. Janus Henderson Group PLC increased its holdings in KAR Auction Services by 44.5% in the second quarter. Janus Henderson Group PLC now owns 3,416,468 shares of the specialty retailer’s stock valued at $85,412,000 after buying an additional 1,052,915 shares in the last quarter. Clear Street Markets LLC purchased a new position in KAR Auction Services in the second quarter valued at $1,366,000. Finally, Boston Financial Mangement LLC increased its holdings in KAR Auction Services by 0.8% in the second quarter. Boston Financial Mangement LLC now owns 484,611 shares of the specialty retailer’s stock valued at $12,115,000 after buying an additional 4,043 shares in the last quarter. Institutional investors own 99.42% of the company’s stock.
A number of research analysts have weighed in on KAR shares. Guggenheim cut shares of KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Tuesday, July 2nd. JPMorgan Chase & Co. cut shares of KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Monday, July 1st. Barrington Research reaffirmed a “buy” rating and issued a $42.50 price objective on shares of KAR Auction Services in a report on Friday, June 28th. SunTrust Banks cut their price objective on shares of KAR Auction Services from $65.00 to $30.00 and set a “buy” rating for the company in a report on Monday, July 1st. Finally, Zacks Investment Research raised shares of KAR Auction Services from a “strong sell” rating to a “hold” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. KAR Auction Services currently has an average rating of “Hold” and an average price target of $39.58.
KAR stock opened at $23.51 on Tuesday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.33 and a beta of 1.07. The firm has a 50-day simple moving average of $25.47 and a 200-day simple moving average of $40.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. KAR Auction Services Inc has a 52 week low of $16.41 and a 52 week high of $28.61.
KAR Auction Services (NYSE:KAR) last released its 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). The company had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $692.00 million. KAR Auction Services had a return on equity of 19.93% and a net margin of 7.67%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. On average, analysts expect that KAR Auction Services Inc will post 1.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 20th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.23%. KAR Auction Services’s dividend payout ratio is currently 25.68%.
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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