Bank of Montreal Can cut its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,457 shares of the specialty retailer’s stock after selling 25,252 shares during the period. Bank of Montreal Can owned about 0.10% of KAR Auction Services worth $8,025,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KAR. Townsend & Associates Inc bought a new stake in shares of KAR Auction Services during the 2nd quarter worth $120,000. Bruderman Asset Management LLC bought a new stake in shares of KAR Auction Services during the 2nd quarter worth $121,000. Tower Research Capital LLC TRC raised its stake in shares of KAR Auction Services by 1,334.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,199 shares of the specialty retailer’s stock worth $175,000 after purchasing an additional 2,976 shares during the period. Iberiabank Corp bought a new stake in shares of KAR Auction Services during the 3rd quarter worth $206,000. Finally, Mutual Advisors LLC bought a new stake in shares of KAR Auction Services during the 2nd quarter worth $215,000. Institutional investors and hedge funds own 99.63% of the company’s stock.

In related news, COO Donald S. Gottwald sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $61.53, for a total value of $615,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Benjamin Skuy sold 59,560 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $62.74, for a total value of $3,736,794.40. The disclosure for this sale can be found here. Insiders sold a total of 277,560 shares of company stock worth $17,295,354 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

A number of research firms have recently commented on KAR. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Tuesday, August 7th. Barrington Research reiterated a “buy” rating on shares of KAR Auction Services in a research note on Monday, August 6th. Robert W. Baird lifted their target price on KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. ValuEngine upgraded KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Finally, SunTrust Banks set a $70.00 target price on KAR Auction Services and gave the stock a “buy” rating in a research note on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.88.

NYSE KAR opened at $55.52 on Monday. The firm has a market cap of $7.46 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.13. KAR Auction Services Inc has a one year low of $46.50 and a one year high of $64.55. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.76.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%. The business had revenue of $956.60 million for the quarter, compared to analysts’ expectations of $923.01 million. As a group, sell-side analysts forecast that KAR Auction Services Inc will post 3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Thursday, September 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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