BB&T Corp lessened its stake in KAR Auction Services Inc (NYSE:KAR) by 19.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,320 shares of the specialty retailer’s stock after selling 4,830 shares during the period. BB&T Corp’s holdings in KAR Auction Services were worth $499,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Baskin Financial Services Inc. purchased a new position in shares of KAR Auction Services during the 2nd quarter valued at $260,000. Janus Henderson Group PLC lifted its stake in shares of KAR Auction Services by 44.5% during the 2nd 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 shares of KAR Auction Services during the 2nd quarter valued at $1,366,000. Boston Financial Mangement LLC lifted its stake in shares of KAR Auction Services by 0.8% during the 2nd 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. Finally, RMB Capital Management LLC purchased a new position in shares of KAR Auction Services during the 2nd quarter valued at $1,298,000. 99.40% of the stock is owned by institutional investors and hedge funds.
KAR has been the topic of a number of analyst reports. Zacks Investment Research cut shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. ValuEngine upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, CJS Securities cut shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $33.58.
In other news, Director Mark E. Hill purchased 18,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $397,750.00. Following the acquisition, the director now owns 48,200 shares of the company’s stock, valued at approximately $1,036,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Phillips Bruce purchased 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were purchased at an average price of $1.04 per share, for a total transaction of $518,500.00. 1.10% of the stock is currently owned by corporate insiders.
KAR stock traded down $0.27 during mid-day trading on Monday, hitting $20.85. The company had a trading volume of 2,288,508 shares, compared to its average volume of 3,509,760. The company has a 50-day moving average price of $23.53 and a 200 day moving average price of $32.69. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 1.26 and a beta of 0.96. KAR Auction Services Inc has a 12-month low of $16.41 and a 12-month high of $28.61.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.04). The business had revenue of $701.90 million for the quarter, compared to analysts’ expectations of $697.46 million. KAR Auction Services had a net margin of 6.95% and a return on equity of 16.67%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, analysts expect that KAR Auction Services Inc will post 1.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio is 25.68%.
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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