KAR Auction Services Inc (KAR) Shares Sold by CENTRAL TRUST Co

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CENTRAL TRUST Co decreased its position in shares of KAR Auction Services Inc (NYSE:KAR) by 50.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,552 shares of the specialty retailer’s stock after selling 1,588 shares during the quarter. CENTRAL TRUST Co’s holdings in KAR Auction Services were worth $74,000 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 acquired a new position in shares of KAR Auction Services during the 3rd quarter worth approximately $756,000. Vanguard Group Inc raised its position in shares of KAR Auction Services by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 12,750,324 shares of the specialty retailer’s stock worth $761,067,000 after purchasing an additional 260,521 shares during the last quarter. Morgan Stanley raised its position in shares of KAR Auction Services by 36.4% during the 3rd quarter. Morgan Stanley now owns 712,786 shares of the specialty retailer’s stock worth $42,546,000 after purchasing an additional 190,243 shares during the last quarter. Legal & General Group Plc raised its position in shares of KAR Auction Services by 2.4% during the 3rd quarter. Legal & General Group Plc now owns 99,660 shares of the specialty retailer’s stock worth $5,948,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of KAR Auction Services by 9,598.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 6,207 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 6,143 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of KAR opened at $49.30 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.22. KAR Auction Services Inc has a fifty-two week low of $45.36 and a fifty-two week high of $64.55.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The business had revenue of $933.50 million during the quarter, compared to analyst estimates of $910.43 million. KAR Auction Services had a net margin of 11.62% and a return on equity of 26.50%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. On average, analysts forecast that KAR Auction Services Inc will post 2.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 4th. Shareholders of record on Thursday, December 20th were issued a $0.35 dividend. The ex-dividend date was Wednesday, December 19th. This represents a $1.40 annualized dividend and a yield of 2.84%. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.

Several research analysts recently issued reports on the company. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday. SunTrust Banks cut their price objective on KAR Auction Services to $65.00 and set a “buy” rating for the company in a research report on Monday, January 7th. ValuEngine downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Barrington Research set a $70.00 price objective on KAR Auction Services and gave the stock a “buy” rating in a research report on Monday, November 5th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.57.

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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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