BARING ASSET MANAGEMENT Ltd purchased a new position in KAR Auction Services, Inc (NYSE:KAR) during the second quarter, Holdings Channel reports. The institutional investor purchased 7,918 shares of the specialty retailer’s stock, valued at approximately $332,000.

Other large investors have also recently modified their holdings of the company. Motley Fool Wealth Management LLC increased its stake in shares of KAR Auction Services by 5.7% in the first quarter. Motley Fool Wealth Management LLC now owns 128,585 shares of the specialty retailer’s stock worth $5,615,000 after buying an additional 6,963 shares during the period. CENTRAL TRUST Co purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $150,000. Visionary Asset Management Inc. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $309,000. Gilbert & Cook Inc. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $240,000. Finally, Vanguard Group Inc. increased its stake in shares of KAR Auction Services by 4.8% in the first quarter. Vanguard Group Inc. now owns 11,286,742 shares of the specialty retailer’s stock worth $492,891,000 after buying an additional 521,526 shares during the period.

KAR Auction Services, Inc (KAR) opened at 44.51 on Friday. KAR Auction Services, Inc has a 12 month low of $38.16 and a 12 month high of $47.03. The firm’s 50-day moving average is $41.92 and its 200-day moving average is $43.39. The firm has a market capitalization of $6.11 billion, a PE ratio of 27.31 and a beta of 1.12.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The firm had revenue of $858 million for the quarter, compared to the consensus estimate of $850.67 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts expect that KAR Auction Services, Inc will post $2.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a yield of 2.88%. KAR Auction Services’s dividend payout ratio is currently 78.53%.

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A number of equities research analysts have recently commented on KAR shares. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Gabelli initiated coverage on shares of KAR Auction Services in a research report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. KAR Auction Services presently has a consensus rating of “Buy” and a consensus target price of $54.33.

In related news, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total value of $436,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John W. Kett sold 9,913 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.92, for a total value of $435,378.96. Following the completion of the transaction, the chief executive officer now owns 51,805 shares in the company, valued at approximately $2,275,275.60. The disclosure for this sale can be found here. Insiders sold 39,932 shares of company stock worth $1,713,678 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

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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