KAR Auction Services Inc (NYSE:KAR) insider Phillips Bruce purchased 500,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $1.04 per share, for a total transaction of $518,500.00.
Shares of NYSE:KAR traded down $0.05 during trading on Monday, reaching $22.45. 122,962 shares of the company’s stock traded hands, compared to its average volume of 3,018,982. KAR Auction Services Inc has a fifty-two week low of $16.41 and a fifty-two week high of $28.61. 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 firm has a market cap of $2.93 billion, a PE ratio of 7.59, a P/E/G ratio of 1.36 and a beta of 1.06. The company has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $35.08.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). KAR Auction Services had a net margin of 6.95% and a return on equity of 16.67%. The business had revenue of $701.90 million for the quarter, compared to analyst estimates of $697.46 million. During the same quarter last year, the business earned $0.70 earnings per share. KAR Auction Services’s revenue was up 14.6% on a year-over-year basis. On average, equities research analysts forecast 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 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 25.68%.
Several large investors have recently bought and sold shares of KAR. WINTON GROUP Ltd grew its position in shares of KAR Auction Services by 82.9% during the 2nd quarter. WINTON GROUP Ltd now owns 12,023 shares of the specialty retailer’s stock valued at $301,000 after acquiring an additional 5,450 shares during the period. Valeo Financial Advisors LLC grew its position in shares of KAR Auction Services by 6.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,464 shares of the specialty retailer’s stock valued at $264,000 after acquiring an additional 565 shares during the period. First Hawaiian Bank grew its position in shares of KAR Auction Services by 113.1% during the 2nd quarter. First Hawaiian Bank now owns 21,187 shares of the specialty retailer’s stock valued at $530,000 after acquiring an additional 11,244 shares during the period. Raymond James Trust N.A. grew its position in shares of KAR Auction Services by 8.3% during the 2nd quarter. Raymond James Trust N.A. now owns 17,069 shares of the specialty retailer’s stock valued at $426,000 after acquiring an additional 1,315 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of KAR Auction Services during the 2nd quarter valued at about $1,366,000. Hedge funds and other institutional investors own 99.42% of the company’s stock.
Several brokerages have weighed in on KAR. ValuEngine raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. CJS Securities downgraded KAR Auction Services from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Finally, Zacks Investment Research downgraded KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $33.58.
About KAR Auction Services
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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