KAR Auction Services, Inc (KAR) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. lifted its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,220 shares of the specialty retailer’s stock after acquiring an additional 800 shares during the quarter. Prudential Financial Inc.’s holdings in KAR Auction Services were worth $303,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Great Lakes Advisors LLC lifted its stake in KAR Auction Services by 5.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 10,696 shares of the specialty retailer’s stock valued at $449,000 after buying an additional 542 shares in the last quarter. Sirios Capital Management L P lifted its stake in KAR Auction Services by 43.9% in the 2nd quarter. Sirios Capital Management L P now owns 422,319 shares of the specialty retailer’s stock valued at $17,724,000 after buying an additional 128,757 shares in the last quarter. Marshall Wace LLP lifted its stake in KAR Auction Services by 0.8% in the 2nd quarter. Marshall Wace LLP now owns 160,922 shares of the specialty retailer’s stock valued at $6,759,000 after buying an additional 1,245 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in KAR Auction Services by 14.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,867,488 shares of the specialty retailer’s stock valued at $78,434,000 after buying an additional 238,753 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in KAR Auction Services in the 2nd quarter valued at approximately $633,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of KAR Auction Services, Inc (NYSE KAR) opened at 47.53 on Friday. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 29.16 and a beta of 1.07. KAR Auction Services, Inc has a 1-year low of $38.16 and a 1-year high of $48.65. The company has a 50-day moving average price of $46.21 and a 200-day moving average price of $43.62.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858.00 million for the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, equities analysts expect that KAR Auction Services, Inc will post $2.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th were given a $0.32 dividend. The ex-dividend date was Tuesday, September 19th. This represents a $1.28 annualized dividend and a yield of 2.69%. KAR Auction Services’s dividend payout ratio (DPR) is 78.53%.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Gabelli assumed coverage on KAR Auction Services in a research note on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a research note on Tuesday, September 12th. Finally, Stephens lowered KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $51.00 to $48.00 in a research note on Thursday, September 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.50.
In related news, CEO John W. Kett sold 10,011 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now owns 65,982 shares of the company’s stock, valued at approximately $2,771,903.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total transaction of $436,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,031 shares of company stock worth $858,249. 1.30% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “KAR Auction Services, Inc (KAR) Shares Bought by Prudential Financial Inc.” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/10/13/kar-auction-services-inc-kar-shares-bought-by-prudential-financial-inc.html.
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).
Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.