Aptus Capital Advisors LLC bought a new position in KAR Auction Services Inc (NYSE:KAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,120 shares of the specialty retailer’s stock, valued at approximately $292,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aperio Group LLC grew its position in KAR Auction Services by 19.0% during the third quarter. Aperio Group LLC now owns 37,591 shares of the specialty retailer’s stock valued at $2,244,000 after acquiring an additional 6,005 shares during the last quarter. Strs Ohio boosted its stake in shares of KAR Auction Services by 11.9% during the third quarter. Strs Ohio now owns 9,517 shares of the specialty retailer’s stock valued at $568,000 after purchasing an additional 1,011 shares during the period. Alps Advisors Inc. purchased a new stake in shares of KAR Auction Services during the third quarter valued at approximately $461,000. Assenagon Asset Management S.A. purchased a new stake in shares of KAR Auction Services during the third quarter valued at approximately $927,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of KAR Auction Services during the third quarter valued at approximately $508,000. 97.83% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on KAR shares. ValuEngine raised KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. SunTrust Banks dropped their price target on KAR Auction Services to $65.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a research note on Wednesday, February 20th. Finally, Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, February 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $63.00.
KAR opened at $48.59 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.56 and a beta of 1.10. KAR Auction Services Inc has a 12-month low of $43.32 and a 12-month high of $64.55.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. KAR Auction Services had a return on equity of 26.46% and a net margin of 8.70%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $936.37 million. On average, equities analysts predict that KAR Auction Services Inc will post 2.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.40 annualized dividend and a yield of 2.88%. KAR Auction Services’s payout ratio is 47.30%.
KAR Auction Services Company 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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