Barings LLC Has $210,000 Position in KAR Auction Services, Inc (KAR)

Barings LLC cut its stake in shares of KAR Auction Services, Inc (NYSE:KAR) by 50.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,400 shares of the specialty retailer’s stock after selling 4,488 shares during the period. Barings LLC’s holdings in KAR Auction Services were worth $210,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Archford Capital Strategies LLC grew its stake in shares of KAR Auction Services by 832.0% during the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 832 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of KAR Auction Services during the second quarter worth $118,000. PNC Financial Services Group Inc. grew its stake in shares of KAR Auction Services by 105.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after purchasing an additional 2,087 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of KAR Auction Services by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 363 shares during the period. Finally, Oakbrook Investments LLC acquired a new stake in shares of KAR Auction Services during the third quarter worth $218,000. 99.22% of the stock is owned by institutional investors and hedge funds.

In related news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total transaction of $481,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin Skuy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

A number of equities research analysts recently commented on KAR shares. Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Stephens cut KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $51.00 to $48.00 in a research note on Thursday, September 7th. Jefferies Group reissued a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a research note on Tuesday, September 12th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research note on Thursday, November 2nd. Finally, J P Morgan Chase & Co boosted their target price on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $52.20.

KAR Auction Services, Inc (NYSE KAR) traded down $0.45 during trading hours on Thursday, reaching $50.29. The company’s stock had a trading volume of 459,000 shares, compared to its average volume of 947,695. KAR Auction Services, Inc has a 1 year low of $40.27 and a 1 year high of $51.01. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $6,863.34, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. equities analysts expect that KAR Auction Services, Inc will post 2.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s payout ratio is 75.29%.

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KAR Auction Services 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).

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

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