First Quadrant L P CA Acquires 54,097 Shares of KAR Auction Services, Inc (KAR)

First Quadrant L P CA boosted its holdings in shares of KAR Auction Services, Inc (NYSE:KAR) by 32.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,425 shares of the specialty retailer’s stock after buying an additional 54,097 shares during the quarter. First Quadrant L P CA owned approximately 0.16% of KAR Auction Services worth $10,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in KAR Auction Services by 0.5% during the second quarter. Vanguard Group Inc. now owns 11,344,446 shares of the specialty retailer’s stock valued at $476,126,000 after buying an additional 57,704 shares during the period. Principal Financial Group Inc. grew its position in KAR Auction Services by 18.6% during the second quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after buying an additional 918,735 shares during the period. BlackRock Inc. grew its position in KAR Auction Services by 1.9% during the second quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock valued at $240,320,000 after buying an additional 107,601 shares during the period. Bessemer Group Inc. grew its position in KAR Auction Services by 43.0% during the second quarter. Bessemer Group Inc. now owns 3,115,698 shares of the specialty retailer’s stock valued at $130,767,000 after buying an additional 937,368 shares during the period. Finally, Schroder Investment Management Group grew its position in KAR Auction Services by 5.0% during the second quarter. Schroder Investment Management Group now owns 2,730,979 shares of the specialty retailer’s stock valued at $114,045,000 after buying an additional 130,936 shares during the period. Institutional investors own 99.52% of the company’s stock.

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Several brokerages recently issued reports on KAR. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Monday. J P Morgan Chase & Co boosted their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. BidaskClub lowered shares of KAR Auction Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Gabelli began coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price target on shares of KAR Auction Services in a research report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $53.80.

KAR Auction Services, Inc (NYSE:KAR) traded up 0.58% during trading on Tuesday, hitting $47.18. 450,631 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $47.04 and its 200 day moving average price is $44.04. KAR Auction Services, Inc has a 12-month low of $38.16 and a 12-month high of $48.65. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 28.94 and a beta of 1.07.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $858.00 million for the quarter, compared to analysts’ expectations of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. Equities analysts forecast that KAR Auction Services, Inc will post $2.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.73%. KAR Auction Services’s payout ratio is 78.53%.

In other news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total transaction of $436,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

KAR Auction Services Company Profile

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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