Quantbot Technologies LP Sells 12,055 Shares of KAR Auction Services Inc (KAR)

Quantbot Technologies LP lessened its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 37.6% in the third quarter, Holdings Channel reports. The fund owned 20,010 shares of the specialty retailer’s stock after selling 12,055 shares during the quarter. Quantbot Technologies LP’s holdings in KAR Auction Services were worth $1,194,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Bruderman Asset Management LLC acquired a new stake in KAR Auction Services during the 2nd quarter valued at $121,000. Harvest Fund Management Co. Ltd acquired a new stake in KAR Auction Services during the 3rd quarter valued at $153,000. Tower Research Capital LLC TRC raised its stake in KAR Auction Services by 1,334.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,199 shares of the specialty retailer’s stock valued at $175,000 after purchasing an additional 2,976 shares during the period. Park Avenue Securities LLC acquired a new stake in KAR Auction Services during the 3rd quarter valued at $202,000. Finally, Iberiabank Corp acquired a new stake in KAR Auction Services during the 3rd quarter valued at $206,000. Institutional investors own 97.27% of the company’s stock.

NYSE KAR opened at $57.14 on Monday. KAR Auction Services Inc has a 1-year low of $48.22 and a 1-year high of $64.55. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $7.69 billion, a PE ratio of 22.86, a P/E/G ratio of 1.65 and a beta of 1.13.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $933.50 million for the quarter, compared to analyst estimates of $910.43 million. KAR Auction Services had a return on equity of 26.50% and a net margin of 11.62%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. On average, sell-side analysts predict that KAR Auction Services Inc will post 2.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, December 19th. KAR Auction Services’s payout ratio is 56.00%.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $62.98, for a total transaction of $629,800.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.29% of the company’s stock.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a research note on Monday, August 6th. ValuEngine raised shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Robert W. Baird upped their price target on shares of KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, SunTrust Banks set a $70.00 price target on shares of KAR Auction Services and gave the stock a “buy” rating in a research note on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.29.

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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.

Read More: Buyback For Investors Defined

Want to see what other hedge funds are holding KAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KAR Auction Services Inc (NYSE:KAR).

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

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