Pioneer Investment Management Inc. increased its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 24.3% during the second quarter, Holdings Channel reports. The fund owned 98,367 shares of the specialty retailer’s stock after buying an additional 19,239 shares during the period. Pioneer Investment Management Inc.’s holdings in KAR Auction Services were worth $4,129,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in KAR Auction Services by 9.7% in the first quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock worth $702,054,000 after buying an additional 1,421,328 shares during the last quarter. Vanguard Group Inc. increased its position in KAR Auction Services by 4.8% in the first quarter. Vanguard Group Inc. now owns 11,286,742 shares of the specialty retailer’s stock worth $492,891,000 after buying an additional 521,526 shares during the last quarter. BlackRock Inc. increased its position in KAR Auction Services by 20,047.2% in the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after buying an additional 5,590,549 shares during the last quarter. Principal Financial Group Inc. increased its position in KAR Auction Services by 4.2% in the first quarter. Principal Financial Group Inc. now owns 4,948,630 shares of the specialty retailer’s stock worth $216,107,000 after buying an additional 200,835 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in KAR Auction Services by 27.9% in the first quarter. OppenheimerFunds Inc. now owns 4,318,549 shares of the specialty retailer’s stock worth $188,592,000 after buying an additional 943,023 shares during the last quarter.

KAR Auction Services, Inc (KAR) opened at 43.88 on Tuesday. KAR Auction Services, Inc has a 12-month low of $38.16 and a 12-month high of $47.03. The company has a 50 day moving average of $41.73 and a 200-day moving average of $43.38. The stock has a market cap of $6.03 billion, a P/E ratio of 26.92 and a beta of 1.12.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $858 million for the quarter, compared to the consensus estimate of $850.67 million. During the same quarter in the prior year, the company earned $0.55 EPS. KAR Auction Services’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that KAR Auction Services, Inc will post $2.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $1.28 annualized dividend and a yield of 2.92%. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.

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A number of equities analysts recently issued reports on KAR shares. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli started coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $54.33.

In other KAR Auction Services news, CEO John W. Kett sold 10,011 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the sale, 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 SEC, which is available at the SEC website. Also, CEO John W. Kett sold 9,913 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.92, for a total value of $435,378.96. Following the completion of the sale, the chief executive officer now owns 51,805 shares in the company, valued at approximately $2,275,275.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,932 shares of company stock worth $1,276,878. 1.30% of the stock is owned by corporate insiders.

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).

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

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