Corsair Capital Management L.P. trimmed its holdings in shares of KAR Auction Services Inc (NYSE:KAR) by 11.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,400 shares of the specialty retailer’s stock after selling 3,124 shares during the period. Corsair Capital Management L.P.’s holdings in KAR Auction Services were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Strs Ohio boosted its stake in KAR Auction Services by 11.9% during the 3rd 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. Legal & General Group Plc boosted its position in shares of KAR Auction Services by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 97,305 shares of the specialty retailer’s stock worth $5,333,000 after purchasing an additional 1,013 shares during the last quarter. Kendall Capital Management boosted its position in shares of KAR Auction Services by 8.4% in the 3rd quarter. Kendall Capital Management now owns 13,990 shares of the specialty retailer’s stock worth $835,000 after purchasing an additional 1,090 shares during the last quarter. Brookstone Capital Management lifted its holdings in KAR Auction Services by 15.2% during the third quarter. Brookstone Capital Management now owns 11,054 shares of the specialty retailer’s stock worth $660,000 after acquiring an additional 1,462 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in KAR Auction Services by 2.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 56,341 shares of the specialty retailer’s stock worth $3,363,000 after acquiring an additional 1,602 shares in the last quarter. 97.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE KAR opened at $54.21 on Friday. The company has a market capitalization of $7.37 billion, a PE ratio of 18.43, a PEG ratio of 1.59 and a beta of 1.13. KAR Auction Services Inc has a 52-week low of $48.22 and a 52-week high of $64.55. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.32 and a current ratio of 1.32.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). KAR Auction Services had a return on equity of 26.50% and a net margin of 11.62%. The firm had revenue of $933.50 million during the quarter, compared to analysts’ expectations of $910.43 million. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts anticipate that KAR Auction Services Inc will post 2.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $1.40 annualized dividend and a dividend yield of 2.58%. KAR Auction Services’s dividend payout ratio (DPR) is presently 56.00%.

In other KAR Auction Services news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $62.98, for a total transaction of $629,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.

KAR has been the topic of a number of recent analyst reports. Barrington Research set a $70.00 price target on KAR Auction Services and gave the stock a “buy” rating in a research report on Monday, November 5th. ValuEngine upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, October 17th. SunTrust Banks set a $70.00 price objective on KAR Auction Services and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Stephens reaffirmed a “hold” rating and set a $60.00 price target on shares of KAR Auction Services in a research report on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $65.29.

WARNING: This article was reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.watchlistnews.com/kar-auction-services-inc-kar-stake-lessened-by-corsair-capital-management-l-p/2666910.html.

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.

See Also: How Do I Invest in Dividend Stocks

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

Receive News & Ratings for KAR Auction Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services and related companies with MarketBeat.com's FREE daily email newsletter.