KAR Auction Services, Inc. (KAR) Shares Sold by Columbia Partners L L C Investment Management

Columbia Partners L L C Investment Management lessened its stake in KAR Auction Services, Inc. (NYSE:KAR) by 11.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,045 shares of the specialty retailer’s stock after selling 4,167 shares during the period. Columbia Partners L L C Investment Management’s holdings in KAR Auction Services were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC boosted its stake in KAR Auction Services by 832.0% in the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 832 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in KAR Auction Services in the second quarter valued at $118,000. CENTRAL TRUST Co acquired a new position in KAR Auction Services in the second quarter valued at $150,000. PNC Financial Services Group Inc. boosted its stake in KAR Auction Services by 105.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 2,087 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in KAR Auction Services by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 363 shares in the last quarter.

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Several brokerages have recently weighed in on KAR. BidaskClub upgraded shares of KAR Auction Services from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $51.00 to $48.00 in a research note on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 target price on shares of KAR Auction Services in a research note on Tuesday, September 12th. Finally, J P Morgan Chase & Co increased their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. KAR Auction Services presently has a consensus rating of “Buy” and a consensus price target of $52.20.

Shares of KAR Auction Services, Inc. (KAR) traded up $0.18 on Friday, hitting $47.70. 661,356 shares of the stock traded hands, compared to its average volume of 1,150,000. KAR Auction Services, Inc. has a twelve month low of $39.74 and a twelve month high of $49.38. The firm has a market capitalization of $6,480.00, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. sell-side analysts forecast that KAR Auction Services, Inc. will post 2.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be issued a dividend of $0.35 per share. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s dividend payout ratio is currently 75.29%.

In related news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $48.14, for a total transaction of $481,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

About KAR Auction Services

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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