KAR Auction Services Inc (KAR) Stake Boosted by Dimensional Fund Advisors LP

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Dimensional Fund Advisors LP lifted its position in KAR Auction Services Inc (NYSE:KAR) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,397,787 shares of the specialty retailer’s stock after acquiring an additional 63,519 shares during the period. Dimensional Fund Advisors LP’s holdings in KAR Auction Services were worth $66,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KAR. Commonwealth Bank of Australia boosted its holdings in KAR Auction Services by 7.5% in the fourth quarter. Commonwealth Bank of Australia now owns 8,600 shares of the specialty retailer’s stock valued at $410,000 after purchasing an additional 600 shares during the last quarter. Aptus Capital Advisors LLC purchased a new stake in KAR Auction Services in the fourth quarter valued at $292,000. Great West Life Assurance Co. Can boosted its holdings in KAR Auction Services by 12.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,064,043 shares of the specialty retailer’s stock valued at $50,866,000 after purchasing an additional 116,275 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in KAR Auction Services in the fourth quarter valued at $1,204,000. Finally, Motley Fool Wealth Management LLC boosted its holdings in KAR Auction Services by 2.8% in the fourth quarter. Motley Fool Wealth Management LLC now owns 184,048 shares of the specialty retailer’s stock valued at $8,783,000 after purchasing an additional 5,018 shares during the last quarter. 97.59% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:KAR opened at $56.00 on Friday. KAR Auction Services Inc has a one year low of $43.32 and a one year high of $64.55. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that KAR Auction Services Inc will post 2.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, May 31st. KAR Auction Services’s payout ratio is currently 47.30%.

Several equities research analysts have commented on KAR shares. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a report on Wednesday, February 20th. Finally, Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a report on Wednesday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.50.

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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.

Further Reading: Buyback

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

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