GSA Capital Partners LLP Has $1.80 Million Position in KAR Auction Services, Inc (KAR)
GSA Capital Partners LLP lifted its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 132.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,793 shares of the specialty retailer’s stock after acquiring an additional 24,357 shares during the period. GSA Capital Partners LLP’s holdings in KAR Auction Services were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brookstone Capital Management bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $269,000. Motley Fool Wealth Management LLC increased its position in shares of KAR Auction Services by 5.7% during the first quarter. Motley Fool Wealth Management LLC now owns 128,585 shares of the specialty retailer’s stock valued at $5,615,000 after acquiring an additional 6,963 shares in the last quarter. CENTRAL TRUST Co bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $150,000. River Road Asset Management LLC bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $37,096,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $309,000. 99.27% of the stock is owned by institutional investors.
Shares of KAR Auction Services, Inc (NYSE:KAR) opened at 46.01 on Friday. The stock has a market cap of $6.32 billion, a PE ratio of 28.23 and a beta of 1.10. The company has a 50-day moving average of $44.16 and a 200 day moving average of $43.28. KAR Auction Services, Inc has a one year low of $38.16 and a one year high of $47.03.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The business had revenue of $858.00 million for the quarter, compared to analyst estimates of $850.67 million. During the same quarter in the prior year, the business posted $0.55 EPS. KAR Auction Services’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts predict that KAR Auction Services, Inc will post $2.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $1.28 dividend on an annualized basis and a yield of 2.78%. KAR Auction Services’s payout ratio is 78.53%.
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In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $43.68, for a total transaction of $436,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Kett sold 10,008 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.06, for a total transaction of $420,936.48. Following the transaction, the chief executive officer now owns 58,941 shares in the company, valued at approximately $2,479,058.46. The disclosure for this sale can be found here. Insiders have sold a total of 30,039 shares of company stock worth $1,279,186 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on KAR shares. Zacks Investment Research downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stephens cut shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Gabelli initiated coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price on the stock. BidaskClub cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a report on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $52.75.
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).
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