KAR Auction Services Inc (KAR) Stake Decreased by Sapience Investments LLC
Sapience Investments LLC lessened its position in KAR Auction Services Inc (NYSE:KAR) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 286,369 shares of the specialty retailer’s stock after selling 8,731 shares during the quarter. KAR Auction Services makes up about 2.1% of Sapience Investments LLC’s portfolio, making the stock its 14th biggest position. Sapience Investments LLC’s holdings in KAR Auction Services were worth $15,693,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. raised its position in KAR Auction Services by 3.2% in the 2nd quarter. Mawer Investment Management Ltd. now owns 3,385,579 shares of the specialty retailer’s stock valued at $185,530,000 after buying an additional 103,842 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in KAR Auction Services in the 2nd quarter valued at approximately $311,000. Royal Bank of Canada raised its position in KAR Auction Services by 3.4% in the 1st quarter. Royal Bank of Canada now owns 454,016 shares of the specialty retailer’s stock valued at $24,607,000 after buying an additional 14,760 shares during the last quarter. Visionary Asset Management Inc. acquired a new stake in KAR Auction Services in the 2nd quarter valued at approximately $373,000. Finally, BlackRock Inc. raised its position in KAR Auction Services by 19.5% in the 2nd quarter. BlackRock Inc. now owns 7,506,952 shares of the specialty retailer’s stock valued at $411,380,000 after buying an additional 1,226,197 shares during the last quarter. 99.73% of the stock is currently owned by institutional investors and hedge funds.
KAR has been the topic of a number of recent research reports. SunTrust Banks set a $70.00 target price on KAR Auction Services and gave the company a “buy” rating in a research report on Thursday, August 9th. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a research report on Monday, August 6th. ValuEngine lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Stephens reissued a “hold” rating and issued a $60.00 target price on shares of KAR Auction Services in a research report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $62.25.
Shares of NYSE:KAR traded up $0.01 during trading on Friday, hitting $63.65. 600 shares of the company were exchanged, compared to its average volume of 532,381. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.13. KAR Auction Services Inc has a fifty-two week low of $45.11 and a fifty-two week high of $64.55. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.76.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The firm had revenue of $956.60 million for the quarter, compared to analyst estimates of $923.01 million. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%. analysts anticipate that KAR Auction Services Inc will post 3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Thursday, September 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is 56.00%.
KAR Auction Services Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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