KAR Auction Services, Inc (KAR) CEO John W. Kett Sells 10,011 Shares

KAR Auction Services, Inc (NYSE:KAR) CEO John W. Kett sold 10,011 shares of KAR Auction Services stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now owns 65,982 shares in the company, valued at approximately $2,771,903.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of KAR Auction Services, Inc (NYSE:KAR) traded up 1.15% on Friday, reaching $43.04. The company’s stock had a trading volume of 1,284,885 shares. The stock has a 50-day moving average price of $41.68 and a 200-day moving average price of $43.43. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 26.40 and a beta of 1.12. KAR Auction Services, Inc has a 1-year low of $38.16 and a 1-year high of $47.03.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The business had revenue of $858 million for the quarter, compared to the consensus estimate of $850.67 million. During the same period in the prior year, the business posted $0.55 earnings per share. KAR Auction Services’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that KAR Auction Services, Inc will post $2.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.

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Several equities research analysts have weighed in on the company. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Gabelli initiated coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. KAR Auction Services presently has a consensus rating of “Buy” and a consensus target price of $54.33.

Institutional investors have recently bought and sold shares of the company. Epoch Investment Partners Inc. increased its position in KAR Auction Services by 2.4% in the second quarter. Epoch Investment Partners Inc. now owns 871,164 shares of the specialty retailer’s stock valued at $36,563,000 after buying an additional 20,824 shares during the last quarter. Dimensional Fund Advisors LP increased its position in KAR Auction Services by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,287,125 shares of the specialty retailer’s stock valued at $54,020,000 after buying an additional 169,714 shares during the last quarter. Virtu KCG Holdings LLC increased its position in KAR Auction Services by 65.2% in the second quarter. Virtu KCG Holdings LLC now owns 25,478 shares of the specialty retailer’s stock valued at $1,069,000 after buying an additional 10,059 shares during the last quarter. Renaissance Technologies LLC increased its position in KAR Auction Services by 158.4% in the second quarter. Renaissance Technologies LLC now owns 400,300 shares of the specialty retailer’s stock valued at $16,801,000 after buying an additional 245,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in KAR Auction Services by 5.1% in the second quarter. Parametric Portfolio Associates LLC now owns 323,008 shares of the specialty retailer’s stock valued at $13,557,000 after buying an additional 15,658 shares during the last quarter.

KAR Auction Services Company Profile

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Insider Buying and Selling by Quarter for KAR Auction Services (NYSE:KAR)

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