Schwab Charles Investment Management Inc. grew its stake in shares of KAR Auction Services, Inc (NYSE:KAR) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 583,173 shares of the specialty retailer’s stock after purchasing an additional 47,389 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.43% of KAR Auction Services worth $24,476,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. FMR LLC increased its position in shares of KAR Auction Services by 9.7% during the 1st quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock worth $702,054,000 after purchasing an additional 1,421,328 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of KAR Auction Services by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 11,286,742 shares of the specialty retailer’s stock worth $492,891,000 after acquiring an additional 521,526 shares during the last quarter. BlackRock Inc. increased its holdings in shares of KAR Auction Services by 20,047.2% during the 1st quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after acquiring an additional 5,590,549 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of KAR Auction Services by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 4,948,630 shares of the specialty retailer’s stock worth $216,107,000 after acquiring an additional 200,835 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of KAR Auction Services by 27.9% during the 1st quarter. OppenheimerFunds Inc. now owns 4,318,549 shares of the specialty retailer’s stock worth $188,592,000 after acquiring an additional 943,023 shares during the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts recently weighed in on KAR shares. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stephens lowered KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Gabelli started coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price on the stock. BidaskClub lowered KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $50.00 target price on shares of KAR Auction Services in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.75.

KAR Auction Services, Inc (KAR) opened at 45.80 on Friday. KAR Auction Services, Inc has a one year low of $38.16 and a one year high of $47.03. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 28.10 and a beta of 1.10. The firm has a 50-day moving average price of $43.98 and a 200-day moving average price of $43.31.

KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $858.00 million during the quarter, compared to the consensus estimate of $850.67 million. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that KAR Auction Services, Inc will post $2.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.

In other news, CEO John W. Kett sold 10,008 shares of KAR Auction Services stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.06, for a total value of $420,936.48. Following the completion of the transaction, the chief executive officer now directly owns 58,941 shares in the company, valued at $2,479,058.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total value of $436,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,039 shares of company stock valued at $1,279,186. 1.30% of the stock is owned by company insiders.

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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