KAR Auction Services Inc. (NYSE:KAR) EVP Benjamin Skuy sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $42.10, for a total value of $631,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Benjamin Skuy also recently made the following trade(s):

  • On Friday, September 2nd, Benjamin Skuy sold 10,000 shares of KAR Auction Services stock. The stock was sold at an average price of $42.74, for a total value of $427,400.00.

Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 42.03 on Tuesday. The stock has a 50 day moving average price of $41.74 and a 200-day moving average price of $40.18. KAR Auction Services Inc. has a 52-week low of $31.54 and a 52-week high of $43.91. The stock has a market capitalization of $5.80 billion, a PE ratio of 26.30 and a beta of 1.48.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $771.80 million for the quarter, compared to analyst estimates of $757.67 million. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The company’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that KAR Auction Services Inc. will post $2.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, September 19th. This represents a $1.16 annualized dividend and a dividend yield of 2.76%. KAR Auction Services’s dividend payout ratio is currently 72.50%.

KAR has been the subject of several research analyst reports. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, July 6th. Northcoast Research cut KAR Auction Services from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Jefferies Group lifted their price target on KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Susquehanna began coverage on KAR Auction Services in a research report on Friday, August 26th. They set a “positive” rating and a $50.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $43.71.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pioneer Investment Management Inc. boosted its stake in shares of KAR Auction Services by 4.8% in the fourth quarter. Pioneer Investment Management Inc. now owns 82,532 shares of the company’s stock worth $3,056,000 after buying an additional 3,794 shares during the period. Norges Bank purchased a new stake in shares of KAR Auction Services during the fourth quarter worth about $27,795,000. Alpha Windward LLC boosted its stake in shares of KAR Auction Services by 1,643.3% in the first quarter. Alpha Windward LLC now owns 12,412 shares of the company’s stock worth $473,000 after buying an additional 11,700 shares during the period. GW&K Investment Management LLC boosted its stake in shares of KAR Auction Services by 5.3% in the first quarter. GW&K Investment Management LLC now owns 738,272 shares of the company’s stock worth $28,158,000 after buying an additional 37,195 shares during the period. Finally, Aperio Group LLC boosted its stake in shares of KAR Auction Services by 33.0% in the first quarter. Aperio Group LLC now owns 11,217 shares of the company’s stock worth $428,000 after buying an additional 2,781 shares during the period.

About KAR Auction Services

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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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