Sterling Capital Management LLC lifted its stake in KAR Auction Services, Inc (NYSE:KAR) by 29.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 649,649 shares of the specialty retailer’s stock after purchasing an additional 149,074 shares during the quarter. Sterling Capital Management LLC owned 0.47% of KAR Auction Services worth $27,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of KAR. Envestnet Asset Management Inc. increased its holdings in KAR Auction Services by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,398 shares of the specialty retailer’s stock worth $280,000 after buying an additional 69 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in KAR Auction Services by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 10,954 shares of the specialty retailer’s stock valued at $460,000 after purchasing an additional 81 shares during the last quarter. Comerica Bank grew its holdings in KAR Auction Services by 1.4% during the first quarter. Comerica Bank now owns 6,094 shares of the specialty retailer’s stock valued at $269,000 after purchasing an additional 87 shares during the last quarter. Utah Retirement Systems grew its holdings in KAR Auction Services by 0.4% during the first quarter. Utah Retirement Systems now owns 25,200 shares of the specialty retailer’s stock valued at $1,100,000 after purchasing an additional 100 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC grew its holdings in KAR Auction Services by 0.6% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 16,180 shares of the specialty retailer’s stock valued at $679,000 after purchasing an additional 100 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

In other KAR Auction Services news, CEO John W. Kett sold 10,011 shares of the stock in a transaction dated Tuesday, August 1st. The stock was 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 directly owns 65,982 shares in the company, valued at $2,771,903.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Donald S. Gottwald sold 10,000 shares of the stock in a transaction dated 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. Insiders sold 20,031 shares of company stock valued at $858,249 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

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Several equities analysts have commented on KAR shares. Zacks Investment Research downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and set a $50.00 price target on shares of KAR Auction Services in a report on Tuesday, September 12th. Gabelli started coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price target on the stock. Finally, BidaskClub downgraded KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. KAR Auction Services currently has a consensus rating of “Buy” and a consensus price target of $53.50.

Shares of KAR Auction Services, Inc (KAR) traded up 0.6230% during trading on Friday, reaching $47.8261. The company’s stock had a trading volume of 63,526 shares. The company has a market cap of $6.57 billion, a PE ratio of 29.3412 and a beta of 1.07. KAR Auction Services, Inc has a 52 week low of $38.16 and a 52 week high of $48.65. The stock’s 50 day moving average price is $46.21 and its 200 day moving average price is $43.62.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the 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 in the prior year, the company earned $0.55 EPS. KAR Auction Services’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts predict that KAR Auction Services, Inc will post $2.25 EPS for the current year.

The company also recently announced 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 of this dividend was Tuesday, September 19th. This represents a $1.28 annualized dividend and a yield of 2.69%. KAR Auction Services’s dividend payout ratio is presently 78.53%.

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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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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