Reinhart Partners Inc. lessened its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 76.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 87,355 shares of the specialty retailer’s stock after selling 287,198 shares during the period. Reinhart Partners Inc.’s holdings in KAR Auction Services were worth $2,145,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of KAR. WINTON GROUP Ltd raised its stake in shares of KAR Auction Services by 82.9% during the second 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 in the last quarter. Valeo Financial Advisors LLC raised its stake in KAR Auction Services by 6.3% in the second quarter. Valeo Financial Advisors LLC now owns 9,464 shares of the specialty retailer’s stock worth $264,000 after buying an additional 565 shares in the last quarter. First Hawaiian Bank raised its stake in KAR Auction Services by 113.1% in the second quarter. First Hawaiian Bank now owns 21,187 shares of the specialty retailer’s stock worth $530,000 after buying an additional 11,244 shares in the last quarter. Raymond James Trust N.A. raised its stake in KAR Auction Services by 8.3% in the second quarter. Raymond James Trust N.A. now owns 17,069 shares of the specialty retailer’s stock worth $426,000 after buying an additional 1,315 shares in the last quarter. Finally, Clear Street Markets LLC bought a new position in KAR Auction Services in the second quarter worth approximately $1,366,000. 99.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on KAR shares. ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. CJS Securities downgraded shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.58.
Shares of KAR stock traded down $0.17 during trading hours on Friday, reaching $21.50. 2,504,173 shares of the company’s stock were exchanged, compared to its average volume of 3,615,075. The stock’s 50 day moving average is $24.56 and its 200-day moving average is $36.11. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 1.43 and a beta of 1.06. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.00. KAR Auction Services Inc has a fifty-two week low of $16.41 and a fifty-two week high of $28.61.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The business had revenue of $701.90 million for the quarter, compared to analyst estimates of $697.46 million. KAR Auction Services had a return on equity of 16.83% and a net margin of 6.95%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. Equities analysts anticipate that KAR Auction Services Inc will post 1.16 EPS for the current year.
The firm also recently declared 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 3.53%. The ex-dividend date of this dividend is Thursday, December 19th. KAR Auction Services’s payout ratio is presently 25.68%.
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.
Further Reading: Dividend Aristocrat Index
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